Long term trend: Up
Medium term trend: Up
Significant levels: 5490 (Horizontal Resistance), 5370 (Horizontal Support)
There is no clear trend here right now. This market has been going up and down these past few months. There is no definite range either, but as we are bullish on this market, we are looking for the price to continue to go up in the near future.
We can see in the chart that the resistance was rejected by the market a number of times. This indicates that bears are in control right now. You can look for a short term trade here to go Short but I don't recommend that.
Use the significant levels in your trade. We are generally bulls here so look for a Long trade. Trade well.
Medium term trend: Up
Significant levels: 5490 (Horizontal Resistance), 5370 (Horizontal Support)
There is no clear trend here right now. This market has been going up and down these past few months. There is no definite range either, but as we are bullish on this market, we are looking for the price to continue to go up in the near future.
We can see in the chart that the resistance was rejected by the market a number of times. This indicates that bears are in control right now. You can look for a short term trade here to go Short but I don't recommend that.
Use the significant levels in your trade. We are generally bulls here so look for a Long trade. Trade well.