A price action above 460 supports a bullish trend direction.
Further bullish confirmation for a break above 480.
The target price is set at 500 (upper range of the rounding bottom pattern.
the stop-loss price is set at 440 (200-day simple moving average).
The win/loss ratio is 1.6:1.
A rounding bottom pattern, also known as a saucer bottom or a bowl bottom, is a technical chart pattern that indicates a potential trend reversal from a downtrend to an uptrend. It is characterized by a gradual and rounded price formation resembling the shape of a bowl or a saucer.
Further bullish confirmation for a break above 480.
The target price is set at 500 (upper range of the rounding bottom pattern.
the stop-loss price is set at 440 (200-day simple moving average).
The win/loss ratio is 1.6:1.
A rounding bottom pattern, also known as a saucer bottom or a bowl bottom, is a technical chart pattern that indicates a potential trend reversal from a downtrend to an uptrend. It is characterized by a gradual and rounded price formation resembling the shape of a bowl or a saucer.