Main items we can see on the chart:
a) The price is above a major Support / Resistance zone
b) The last time the price broke this level with a bullish movement we observed the next sequence:
-A bullish movement towards 500 - 515
-Daily Correction making a throwback on the broken resistance zone
c)The main idea of technical analysis is that what happened on the past will tend to repeat on the future, following that idea we are going to pay attention to the previously mentioned movement
d)IF the price reaches the 500-515 level and we observed a correction similar to the one that happened on the past, THEN we will open long positions with a target on 850.00
a) The price is above a major Support / Resistance zone
b) The last time the price broke this level with a bullish movement we observed the next sequence:
-A bullish movement towards 500 - 515
-Daily Correction making a throwback on the broken resistance zone
c)The main idea of technical analysis is that what happened on the past will tend to repeat on the future, following that idea we are going to pay attention to the previously mentioned movement
d)IF the price reaches the 500-515 level and we observed a correction similar to the one that happened on the past, THEN we will open long positions with a target on 850.00