From the chart we can see that a VERY strong and reliable trend line has formed, this trend line is been used as both support ( purple arrows ) and resistance ( green arrows )
2 weeks ago price came up to test our trend line as resistance eventually breaking this level then pushing price higher, then last week price came back down to test this line as support, price did exactly that touching the line and then bouncing.
We can see a possible upside run to our 148.000 zone, this is where we will be placing our TP as this is a possible and previously very strong resistance level.
2 weeks ago price came up to test our trend line as resistance eventually breaking this level then pushing price higher, then last week price came back down to test this line as support, price did exactly that touching the line and then bouncing.
We can see a possible upside run to our 148.000 zone, this is where we will be placing our TP as this is a possible and previously very strong resistance level.
Comment:
Price is still respecting our trendline, we are expecting bullish movement soon