The price try to retest a downward trade line (MT). As a resistance, we have a red line (6850) and a red block. If the price can break through downward blue line and retest it from upward, we can expect the growth of the price.
If the price can't break out - it will be a bearish signal to sell.
So, summing up, resistances: red line (6850), trend line (MT), red zone (7000-7200) and the orange line (7305) is the main resistance line, the price apparently will bounce off from it. Supports: if the price go down now, the support zone will be an orange line and if it breaks - the falling will increase.
If the price can't break out - it will be a bearish signal to sell.
So, summing up, resistances: red line (6850), trend line (MT), red zone (7000-7200) and the orange line (7305) is the main resistance line, the price apparently will bounce off from it. Supports: if the price go down now, the support zone will be an orange line and if it breaks - the falling will increase.
Commentaire:
We got a first trigger to go long. You should find a point of entry in 1H-4H, Stop here would be below red line.