Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (97.574 to 98.133). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

• Beginning of entry zone (97.574)
• Ending of entry zone (98.133)

Midterm forecast:

• While the price is below the resistance 98.553, beginning of downtrend is expected.
• We make sure when the support at 93.003 breaks.
• If the resistance at 98.553 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

• While the RSI resistance #1 at 57 is not broken, the probability of price increase would be too low.
• A trough is formed in daily chart at 95.485 on 02/01/2024, so more gains to resistance(s) 97.574, 98.133 and maximum to Major Resistance (98.553) 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 56.

Take Profits:

1. 95.714
2. 94.570
3. 93.003
4. 91.781
5. 90.512
6. 89.020
7. 87.016
8. 85.904