Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (110.704 to 111.509). 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 (110.704)
• Ending of entry zone (111.509)

Midterm forecast:

• While the price is below the resistance 113.030, resumption of downtrend is expected.
• We make sure when the support at 102.800 breaks.
• If the resistance at 113.030 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

• While the RSI uptrend #1 is not broken, bullish wave in price would continue.
• A peak is formed in daily chart at 111.175 on 11/07/2024, so more losses to support(s) 109.001, 107.671, 106.332 and minimum to Major Support (102.800) 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 54.

Take Profits:

1. 109.001
2. 107.671
3. 106.332
4. 104.805
5. 102.800
6. 101.710
7. 100.559
8. 97.765
9. 95.852
10. 94.068