In the daily chart an ascending triangle pattern is visible. The price is on the verge of break out. It has accumulated and now is in the middle of a minor correction before most likely breaking out.
MACD hasn't confirmed the uptrend yet, but RSI indicates lot of room for buyers.
That said, my trade setup for now would be slightly conservative,
I'd prefer to go long once the break out is confirmed. Somewhere around 8.53
Stop loss @ 7.69
Target 1 @ 9.24
Target 2 @ 10.45
As always, revert with feedback or questions if any. Thank you!
MACD hasn't confirmed the uptrend yet, but RSI indicates lot of room for buyers.
That said, my trade setup for now would be slightly conservative,
I'd prefer to go long once the break out is confirmed. Somewhere around 8.53
Stop loss @ 7.69
Target 1 @ 9.24
Target 2 @ 10.45
As always, revert with feedback or questions if any. Thank you!