: There seem to be 23.6 retracement + EMA 10(day) in that region. Plus eMA 20 is right underneath eMA 10 within the green box
If it bounces off from here, certainly it will break the resistance channel as the Wave E. Though 8500 might be hard to break and I would close 50% of my target when reached here, potentially looking at 9100 Area.
Stop loss would be below the green box. I think it is worth a shot. As This could be a dip zone or rebuy point.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.