Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (7948.28 to 7877.84). 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 (7948.28)
• Ending of entry zone (7877.84)

Midterm forecast:

• 7948.28 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

• A peak is formed in daily chart at 8532.25 on 12/02/2024, so more losses to support(s) 8300.00, 8226.00, 8159.10 and minimum to Major Support (7948.28) 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 53.

Take Profits:

1. 8101.24
2. 8159.10
3. 8226.00
4. 8300.00
5. 8400.00
6. 8500.00
7. 8600.00