Show some strong signs at these levels:
In the event that both the 1262 level and the 200-moving average hold, target will 1550.
However, caution is advised. If the support falters, and the price breaks below the 200-moving average, a reversal could be in play, with a downside target at 980. Traders should closely monitor these levels for decisive price action.
- Support at 1262 Level: The price is currently resting on a critical support level at 1262, indicating a potential bounce or continuation.
- 200 Moving Average Support: Further reinforcing the bullish case, the 200-day moving average is acting as additional support, adding strength to the current position.
In the event that both the 1262 level and the 200-moving average hold, target will 1550.
However, caution is advised. If the support falters, and the price breaks below the 200-moving average, a reversal could be in play, with a downside target at 980. Traders should closely monitor these levels for decisive price action.
Trade closed: target reached