Last few months the market has rallied back down to test the support levels. The market formed a following by a big , which was in conjunction with a . This month we are breaking through a strong .
pointing to the upside, after forming a higher low. We are now on the way up to potentially form a higher high. The same resistance on the monthly chart has been broken here and retested this week.
Yesterday a was formed right on the which is pointing up. Following this, today if the bulls keep momentum and will be also formed rejecting the resistance line which is now support.
Support line has been tested twice which formed the higher low. After closing strongly above this line we have a CTL cross alongside the crossing to the upside. Price target is the next weekly support of 1350, TP has been taken a few pips below this price.