Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (90.70 to 91.14). 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 (90.70)
• Ending of entry zone (91.14)

Midterm forecast:

• While the price is below the resistance 91.140, resumption of downtrend is expected.
• We make sure when the support at 88.390 breaks.
• If the resistance at 91.140 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

• The Falling Wedge taking shape and as a bullish pattern suggests we will soon see another leg higher if price breaks and closes above downtrend.
• The RSI resistance #1 at 53 is broken, so the probability of resumption of downtrend is decreased.
• A trough is formed in daily chart at 84.92 on 09/20/2021, so more gains to resistance(s) 90.70 and maximum to Major Resistance (91.14) 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 74.

Take Profits:

1. 87.43
2. 86.05
3. 85.40
4. 84.75
5. 83.25
6. 81.75
7. 80.55
8. 79.60
9. 78.50
10. 76.75