Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (109.648 to 110.500). 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 (109.648)
• Ending of entry zone (110.500)

Midterm forecast:

• While the price is below the resistance 110.500, resumption of downtrend is expected.
• We make sure when the support at 104.500 breaks.
• If the resistance at 110.500 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

• The double tops taking shape.
• While the RSI downtrend #1 is not broken, bearish wave in price would continue.
• A trough is formed in daily chart at 107.171 on 11/03/2022, so more gains to resistance(s) 109.648 and maximum to Major Resistance (110.500) 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 57.

Take Profits:

1. 108.395
2. 105.890
3. 104.500
4. 102.535
5. 101.110
6. 97.771
7. 92.886
8. 84.878