Kangaroo tail / Hammer candle (at the time of publishing idea)
- Important support zone
- A lot of room to the left
- Nice candle formation
Only place the order a few minutes before the next candle formation (on daily chart) if the candle still has its form.
The level you'd want to take a close look at is the 49.50 mark, short if you see a bearish signal.
If Price goes UP and breaks through the +/- 51.00 mark (key resistance), then the +/- 60 level should be next.
If price goes DOWN and breaks through the +/- 45.40 (key support), then it could go down to the ...