A price action above 33600 supports a bullish trend direction.
Almost testing its 200-week simple moving average. Crossing above this key resistance might propel the price action to 35500 (23.6% Fibonacci retracement) and beyond.
The target price is set at 37200 (just below its 200-day simple moving average).
The stop-loss price is set at 32500 or its 61.8% Fibonacci retracement level.
The price movement continues to follow an upward channel pattern, suggesting a bullish sentiment. Moreover, the significant resistance level currently being tested could potentially break, indicating a further upward trend.
Almost testing its 200-week simple moving average. Crossing above this key resistance might propel the price action to 35500 (23.6% Fibonacci retracement) and beyond.
The target price is set at 37200 (just below its 200-day simple moving average).
The stop-loss price is set at 32500 or its 61.8% Fibonacci retracement level.
The price movement continues to follow an upward channel pattern, suggesting a bullish sentiment. Moreover, the significant resistance level currently being tested could potentially break, indicating a further upward trend.