Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (87.016 to 85.904). 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 (87.016)
• Ending of entry zone (85.904)

Midterm forecast:

• While the price is above the support 85.904, beginning of uptrend is expected.
• We make sure when the resistance at 93.033 breaks.
• If the support at 85.904 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

• While the RSI support #1 at 42 is not broken, the probability of price decrease would be too low.
• A peak is formed in daily chart at 91.860 on 05/08/2023, so more losses to support(s) 90.051, 89.020, 87.016 and minimum to Major Support (85.904) is expected.
• Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
• Relative strength index (RSI) is 51.

Take Profits:

1. 89.020
2. 90.051
3. 90.830
4. 92.048
5. 93.033
6. 94.570
7. 95.700
8. 96.870
9. 98.580