We can see the bullish flag pattern, a previous resistant turn support with a bullish engulfving previous candle on the 1 hour time frame. We can also confirm a continuation of the bullish run.....and Short from the Target
1. Price action retested a previous resistance at 2976 to form a support on 1D (Confirms Break and retest and Resistance turn Support Psychology)
2. If Price action closes above 3150 on 1D, a double top is likely at 3580
Forecast: Entry- 3050 after Break and Retest on 30mins TF on previous resistance
Exit 1- 3150
Exit 2- 3250
Exit 3- 3550
Disclaimer: This is...
The current support has been tested once before now which confirms a double bottom and the trend line clearly shows HHs and HLs on the weekly timeframe.
Best bet we will see a new ATH come next week or month ending.
This analysis was done by identifying crucial support and resistance Level at both 1day time frame, 4hours time frame and also 30mins time frame was used to determine our entry point. As predicted so was the outcome.
