BAsed on the last two dips the descending resistance trend line played a key role
Using those as a reference we can see that resistance is now broken and an important level of 193.65 is about to be broken .
Slow upward movement also giving good bullish signals since the bottom of 175
Entries can now be made with a strict stop loss of 173
Remember we are still below the 200 SMA/EMA so technically we are still in a bear trend overall.
Entry : 195
Stop loss : 173
TP1 : 220
230 is where the strong channel resistance will come in to play
if we break past 240 , that means we are going 300 then :)
Using those as a reference we can see that resistance is now broken and an important level of 193.65 is about to be broken .
Slow upward movement also giving good bullish signals since the bottom of 175
Entries can now be made with a strict stop loss of 173
Remember we are still below the 200 SMA/EMA so technically we are still in a bear trend overall.
Entry : 195
Stop loss : 173
TP1 : 220
230 is where the strong channel resistance will come in to play
if we break past 240 , that means we are going 300 then :)