Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1562.00 to 1521.00). 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 (1562.00)
• Ending of entry zone (1521.00)

Midterm forecast:

• While the price is above the support 1521.00, continuation of uptrend is expected.
• We make sure when the resistance at 2141.55 breaks.
• If the support at 1521.00 is broken, the short-term forecast -continuation of uptrend- will be invalid.

Technical analysis:

• There is a divergence in RSI and price between the trough at 1550 on 2023-08-17 and the trough at 1531.01 on 2023-09-11, the probability of downtrend continuation is decreased and the probability of continuation of uptrend is increased.
• A trough is formed in daily chart at 1904.00 on 11/17/2023, so more gains maximum to Major Resistance (2141.55) 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 60.

Take Profits:

1. 1680.00
2. 1745.85
3. 1812.05
4. 2030.00
5. 2141.55
6. 2488.19
7. 2724.63
8. 3146.52
9. 3580.00
10. 4140.98
11. 4493.30
12. 4868.00