
The chart indicates a strong recovery after a significant dip.
Recent bullish patterns suggest potential for further gains.
Key resistance levels may shape near-term price action.
There is a noticeable bullish engulfing pattern around the August 22nd mark, which indicates a potential reversal from the previous downtrend.
A series of small-bodied candles follow, suggesting indecision or consolidation.
The overall trend appears bullish in the recent portion of the chart, following a significant dip and subsequent recovery.
The MACD line has recently crossed above the Signal line, indicating a bullish crossover.
Positive and increasing MACD histogram suggests building bullish momentum.
No significant divergences between the MACD and price action are apparent, supporting the current trend.
There was a substantial spike in volume during the bullish engulfing pattern, indicating strong buying interest.
The increased volume during price rises supports the bullish movement.
The volume spike suggests potential institutional buying during the reversal around August 22nd.
Key support appears to be around 3380-3400, where previous consolidation and reversal occurred.
The resistance zone is around 3430-3440.
A break above this could signal further bullish advances.
Buy on a confirmed breakout above the 3440 resistance, especially if supported by strong volume.
Hold if the price consolidates or shows indecision at current levels.
Watch for a potential pullback to the 3400 level for a potential entry point if the breakout fails.
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Secured By SSL. Copyright © Seekapa. All rights reserved. 2024
Company Information: This website (www.seekapa.com.com/) is operated by Bluepine Ltd, a Seychelles investment firm, authorised and regulated by the Financial Services Authority of Seychelles with license number SD183. Bluepine Ltd is located at Suite 205, 2nd Floor, Waterside Property Limited, Eden Island, Seychelles
Risk warning: Contracts for difference (‘CFDs’) is a complex financial product, with speculative character, the trading of which involves significant risks of loss of capital. Trading CFDs, which is a marginal product, may result in the loss of your entire balance. Remember that leverage in CFDs can work both to your advantage and disadvantage. CFDs traders do not own, or have any rights to, the underlying assets. Trading CFDs is not appropriate for all investors. Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. Before deciding to trade, you should carefully consider your investment objectives, level of experience and risk tolerance. You should not deposit more than you are prepared to lose. Please ensure you fully understand the risk associated with the product envisaged and seek independent advice, if necessary. Please read our Risk Disclosure document.
Regional Restrictions: Bluepine Ltd does not offer services within the European Economic Area as well as in certain other jurisdictions such as the USA, British Columbia, Canada and some other regions.
Bluepine Ltd does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of any financial product. Bluepine Ltd is not a financial adviser.