DUBAI TAXI COMPANY (DTC) Riding The Ascending ChannelDTC’s bouncing clean off the old resistance, now strong demand. Classic flip. Riding within an ascending channel, eyeing 2.75+ — just needs volume to push through
### 🟢 **Support Turned Demand Zone**
* The **previous resistance zone** around **2.33 – 2.42** has flipped into a **strong support/demand zone**.
* Price dipped into this zone and sharply bounced, confirming **buy-side absorption** at that level.
* Classic **S/R Flip** behavior – ideal for long setups.
* **Ascending channel** is developing — price respecting both upper and lower trendlines.
* Higher highs and higher lows = bullish structure in play.
* Channel is guiding price towards **next resistance/supply levels**.
### 🟡 **Supply Zones**
* **2.75 – 2.85**: Marked supply zone with heavy volume profile clusters — likely profit-taking or institutional selling pressure.
* Expect some turbulence or partial TP in that area.
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### 📉 **RSI Perspective**
* The bounce from demand zone came with **low RSI** — signaling **bullish divergence** or **oversold** conditions
* Another bullish technical confirmation for current long bias
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## 🎯 **Trading Plan**
| **Entry** | 2.54 – 2.56 (channel support retest) |
| **Stop Loss** | Below 2.42 (under demand zone) |
| **Take Profit ** | 2.85 (major supply zone) |
| **R/R Ratio** | Approx **1:2.8** |
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> *“Every resistance broken becomes a soldier in the support army.”*
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### ⚠️ **Disclaimer**
> This analysis is for educational purposes only and not financial advice. Always do your own research and use stop losses.
