On the weekly timeframe, IP has been exhibiting an upward trend while encountering resistance on its descent. Presently, the trend appears bullish following the formation of a higher low in price.
The critical breakout level for initiating long positions now lies at 38.2. Traders should closely monitor this level as a decisive breach could signal a strong bullish momentum.
To manage risk, consider placing stop-loss orders near the swing low at 34. Additionally, it's advisable to closely observe price action for confirmation of the breakout before entering into any trades.
The critical breakout level for initiating long positions now lies at 38.2. Traders should closely monitor this level as a decisive breach could signal a strong bullish momentum.
To manage risk, consider placing stop-loss orders near the swing low at 34. Additionally, it's advisable to closely observe price action for confirmation of the breakout before entering into any trades.