The market is in the uptrend on the Daily timeframe. Another high of $9.27 was updated on August 8. And today the correction has started.
A pullback buying opportunity will appear after the correction is finished and a bullish candle is formed on the Daily timeframe. According to the price chart it may happen in a couple of days.
If the upward movement continues, then the price can move towards the main target #2. It is the resistance level formed on May 29 – June 1. This target is around $10.44 – $10.78.
The longs will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of August 1 – 4.
A pullback buying opportunity will appear after the correction is finished and a bullish candle is formed on the Daily timeframe. According to the price chart it may happen in a couple of days.
If the upward movement continues, then the price can move towards the main target #2. It is the resistance level formed on May 29 – June 1. This target is around $10.44 – $10.78.
The longs will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of August 1 – 4.