Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (6.50 to 6.00). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

• Beginning of entry zone (6.50)
• Ending of entry zone (6.00)

Midterm forecast:

• While the price is above the support 6.000, beginning of uptrend is expected.
• We make sure when the resistance at 9.700 breaks.
• If the support at 6.000 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

• There is a divergence in RSI and price between the trough at 15.83 on 2022-01-24 and the trough at 14.05 on 2022-02-24, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
• A trough is formed in daily chart at 6.80 on 08/29/2022, so more gains to resistance(s) 7.79, 8.50 and maximum to Major Resistance (9.70) is expected.
• Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
• Relative strength index (RSI) is 49.

Take Profits:

1. 7.79
2. 8.50
3. 9.70
4. 10.75
5. 14.15
6. 17.00
7. 20.60
8. 23.25
9. 27.79
10. 32.80
11. 39.00
12. 45.00
13. 55.00