Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (7.44 to 6.35). 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 (7.44)
• Ending of entry zone (6.35)

Midterm forecast:

• While the price is above the support 4.800, beginning of uptrend is expected.
• We make sure when the resistance at 11.400 breaks.
• If the support at 4.800 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 16.82 on 2022-01-24 and the trough at 16.82 on 2022-02-24, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
• While the RSI uptrend #1 is not broken, bullish wave in price would continue.
• A peak is formed in daily chart at 11.40 on 08/01/2022, so more losses to support(s) 7.44, 6.35 and minimum to Major Support (4.80) 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 62.

Take Profits:

1. 9.52
2. 11.40
3. 13.86
4. 16.50
5. 26.70
6. 41.25
7. 50.58
8. 66.68
9. 81.20
10. 96.65
11. 120.15