The price action has formed a classic 'Cup' or rounding bottom pattern.
This indicates a gradual accumulation phase and a clear shift in momentum from sellers to buyers.
Breakout: The price successfully broke out of the neckline resistance at 580.55.
The 580.55 mark held firm as new support, followed by a strong bullish bounce that confirms the breakout's validity.
Volume Confirmation: The initial breakout was accompanied by a noticeable surge in buying volume, adding significant weight to the upward momentum.
Trade Setup:
Direction (Bias): Long.
Entry Point: Current market price around the 600 - 605 zone.
Target: 645.
This is calculated using the measured move of the cup's depth (roughly 515 to 580), projected upward from the breakout line.
Stop Loss: 565. A daily close below the recent retest wick and the 580.55 support zone would invalidate this bullish setup.
Expected Duration: Short to medium term (1 to 4 weeks).
This indicates a gradual accumulation phase and a clear shift in momentum from sellers to buyers.
Breakout: The price successfully broke out of the neckline resistance at 580.55.
The 580.55 mark held firm as new support, followed by a strong bullish bounce that confirms the breakout's validity.
Volume Confirmation: The initial breakout was accompanied by a noticeable surge in buying volume, adding significant weight to the upward momentum.
Trade Setup:
Direction (Bias): Long.
Entry Point: Current market price around the 600 - 605 zone.
Target: 645.
This is calculated using the measured move of the cup's depth (roughly 515 to 580), projected upward from the breakout line.
Stop Loss: 565. A daily close below the recent retest wick and the 580.55 support zone would invalidate this bullish setup.
Expected Duration: Short to medium term (1 to 4 weeks).
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.