1. Prior consolidation before strong up move, shows hidden buying activities at this region – buyers will be likely to defend their positions at this level
2. Prior support turned resistance level
3. Broke out of major downtrend line, will only be keen to take long positions
Our Trade Setup will be:
Price ranging for sometime
Will look for long ONLY if it breaks $2.1
Seems like resistance is still holding well.
The information contained in this presentation is solely for educational purposes and does not constitute investment advice.
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