Neo Buy Opportunity
The market moves in the borders of the horizontal price channel between 32.00 and 26.00 levels. The price bounces from the support zone formed by 27.00 and 26.00 levels. RSI confirms price reversal. It's buy opportunity and we can place pending orders at 28.30 level with stop at 26.50 level. The main profit target is the up border of the price channel and it's 31.70 level. If the price breaks this resistance, probably we'll see upward movement to 37.00 level. This level will be good as the 2nd profit target for long trades.
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.