Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (39972.94 to 40446.50). 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 (39972.94)
• Ending of entry zone (40446.50)

Midterm forecast:

• While the price is below the resistance 41167.85, resumption of downtrend is expected.
• We make sure when the support at 33870.29 breaks.
• If the resistance at 41167.85 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

• The descending flag taking shape suggests we will soon see another leg lower.
• While the RSI resistance #1 at 63 is not broken, the probability of price increase would be too low.
• A peak is formed in daily chart at 40449.25 on 12/27/2024, so more losses to support(s) 38340.77, 36987.50, 35145.68 and minimum to Major Support (33870.29) 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 55.

Take Profits:

1. 38340.77
2. 36987.50
3. 35145.68
4. 33870.29
5. 32280.48
6. 31256.13
7. 30385.78