There are few reason that its should be long.
1.Daily price action on Thursday and Friday, show Bullish pin bar. (Indicate that the seller getting bored and buyer on into the market)
2.The price on support (1263.00) that had been created on OCT & NOV 2017, broken on DEC 2017 for a few days but then, price broke again this level.
3.The price is making retracement 1263.00 support level.
The reason it is making retracement
1.The confluence price between 1305.00 and 1360.00 had been broken (size of confluence was around 5582 pts.So that, price should be reach 5500 pts after that broken (target price 1250.00)
2.Notice that there was small confluence price between 1290.00 and 1305.00. It will make it hard for the price to break.
Target price for this long 1282.00~1290.00.
1.Daily price action on Thursday and Friday, show Bullish pin bar. (Indicate that the seller getting bored and buyer on into the market)
2.The price on support (1263.00) that had been created on OCT & NOV 2017, broken on DEC 2017 for a few days but then, price broke again this level.
3.The price is making retracement 1263.00 support level.
The reason it is making retracement
1.The confluence price between 1305.00 and 1360.00 had been broken (size of confluence was around 5582 pts.So that, price should be reach 5500 pts after that broken (target price 1250.00)
2.Notice that there was small confluence price between 1290.00 and 1305.00. It will make it hard for the price to break.
Target price for this long 1282.00~1290.00.
Comment:
if the price today close below 1263.00 level, that will highly no retracement.