This commodity has been in a bullish run since April 2021. It found resistance at 3.810 but after a few attempts, on 20 July it broke above this ceiling. These last few days it has been trying to retest this level and I am hoping that it will do that early next week (starting 02 Aug).
My intention is to place a pending buy order in the region of 3.80/3.84 with a stop below 3.760. If my analysis is correct and the bullish trend continues, we should be able to get to 4.08 with ease. This has the potential to be a 2.5R trade or more (with patience).
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Always use sound money and risk management in all your trades.
My intention is to place a pending buy order in the region of 3.80/3.84 with a stop below 3.760. If my analysis is correct and the bullish trend continues, we should be able to get to 4.08 with ease. This has the potential to be a 2.5R trade or more (with patience).
If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications.
Always use sound money and risk management in all your trades.