A price action above 202.00 supports a bullish trend direction.
Increase long exposure for a break above 215.00.
The upside target is set at 240.00.
Stop-loss at 195.00. Negtat the trade foir a break below this level.
The MACD gave a bullish crossover recently, supporting a change in trend direction.
Furthermore, the price action is at the lower range of the linear regression channel pattern, which is sloping upwards (bullish trend).
This increases the likelihood of a mean reversion trade.
Trade expected to unfold over the next couple of weeks.
Increase long exposure for a break above 215.00.
The upside target is set at 240.00.
Stop-loss at 195.00. Negtat the trade foir a break below this level.
The MACD gave a bullish crossover recently, supporting a change in trend direction.
Furthermore, the price action is at the lower range of the linear regression channel pattern, which is sloping upwards (bullish trend).
This increases the likelihood of a mean reversion trade.
Trade expected to unfold over the next couple of weeks.