Reasons: 1. Prior consolidation before strong up move, shows hidden buying activities at this region – buyers will be likely to defend their positions at this level 2. Prior support turned resistance level 3. Broke out of major downtrend line, will only be keen to take long positions Our Trade Setup will be: EP: 2.42 SL: 2.35 TP: TBD Best Regards, Nour...
The long term downward trend is yet to be challenged, but the current movevement offers short term trading possibilities
Price ranging for sometime Will look for long ONLY if it breaks $2.1 Seems like resistance is still holding well. Disclaimer: The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging...
-Bearish downtrend channel. Primary trend:downtrend -Possible down to secular trend line at around 1.7x level.