This broke out from a Resistance Zone of downtrending Trendline and closed above four months high.
On Buy Side I am looking for Targets of 870 - 880 zone followed by 920-930 Zone. Target Calculation = 2*(Resistance Level - Last swing low)
StopLoss should be kept below 790-800zone. It offers 1:2 Risk To Reward.
All Important Supports and Resistances are drawn in chart. All levels are on closing basis. Please have a look and revert back if you need some more study on it.
Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
Commentaire
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Touched First Target Zone then Retraced. SL Intact.