Firstly, looking at the higher timeframe charts, it can be clearly observed that the sentiment of the market is bullish. Thus, the direction is identified - uptrend.
Zooming into the DAILY (D) timeframe graph, we can notice how the 133.3 price level is acting as a strong zone of support and being rejected. Looking even closer, it can be inferred that the price has failed to create new Lower Lows and has formed a double bottom instead. Therefore, we are pretty positive that the price will keep rising from here on and reach the area identified on the chart.
Zooming into the DAILY (D) timeframe graph, we can notice how the 133.3 price level is acting as a strong zone of support and being rejected. Looking even closer, it can be inferred that the price has failed to create new Lower Lows and has formed a double bottom instead. Therefore, we are pretty positive that the price will keep rising from here on and reach the area identified on the chart.
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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.
Disclaimer
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.