* The price is in a range bound and we forecast the uptrend would resume.
* There is still a possibility of temporary retracement to suggested support line (16.50). if so, traders can set orders based on Price Action and expect to reach short-term targets.
* If you missed our first HUNT, you have a second chance to buy above the suggested support line (16.50).
. While the price is above the support 16.50, resumption of uptrend is expected.
. We make sure when the resistance at 18.35 breaks.
. If the support at 16.50 is broken, the short-term forecast -resumption of uptrend- will be invalid.
. We will close our open trades, if the Midterm level 16.50 is broken.
. The symmetrical triangle taking shape and as a continuation pattern suggests we will soon see another leg higher if price breaks and closes above the downtrend line of the triangle.
. While the support #1 at 45 is not broken, the probability of price decrease would be too low.
. A peak is formed in at 18.35 on 06/ 01 /2020, so more losses to support(s) 17.50, 16.50 and minimum to Major Support (16.50) is expected.
. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
. ( ) is 58.
If you had any questions feel free to ask our online support team.