Looking to follow the current momentum in this asset class by buying with a target of at least $2200 (short term), $2400 by year end. The 100 DMA has acted as support in the bull run lasting from 2013-2015 however was interrupted with market scares during 2015-2016 (China Yuan devaluation, China slowdown, Oil price shock, prospective US rate rises, Brexit, EU-Greece debacle). As these issues are now behind us and with market confidence returning, fundamentally the picture is strong.
A sustained move below the 100 DMA would keep me out the trade, as this would signal sideways action.
However be mindful of the current level of support at $2125 which if broken (close below this level) would likely bring on further weakness with a test back down to $2010.
A sustained move below the 100 DMA would keep me out the trade, as this would signal sideways action.
However be mindful of the current level of support at $2125 which if broken (close below this level) would likely bring on further weakness with a test back down to $2010.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.