The most cautious sold at the peak of quotations, and now they are doubting whether they were in a hurry.
Probably a little hasty. After all, the maximum of the year at 64810 is the first significant growth goal, the chances of stopping at which are not very high due to the level of accumulated optimism.
The probability of a pullback at the technical resistance level of 68058 is higher, since the volatility target has been worked out, and those who bought at the highs of the year will already compensate for the drawdown and earn a little. Moreover, the memory of former losses presses on them.
But still, the best solution for investors would be to focus on the target in the technical (volatility) area of the long-term resistance level of 81400.
D1D1
The main, long-term, medium-term and short-term trends remain upward. According to the weekly and junior trends, at the time of publication, a technical downward correction is being completed in the daily trend channel 63971-66893, the lower limit of which has been worked out, and the market is moving up from it.
H1H1
When returning to the correction movement of the correction goal:
– 63971 — the daily trend support zone at the level of 61236 is the most likely correction target, limiting the range of volatility of the daily trend;
– 61159 — weekly trend support, which becomes an actual correction target when the daily trend channel breaks;
– 51926 — short-term trend support is unlikely in the current situation. We keep long-term longs.
For speculative positions, the purchase zone is the level of current prices, since there was an upward reversal of the daily and intraday trends.
Resistance levels: 64810, 66893, 68058, 81400.
Support levels: 63971, 61159, 51926, 47566, 37148, 34972, 28702, 22413.
The analysis is based on the indicators of the SWT method. All published materials and graphics reflect the personal opinion of the author and cannot be a call, direct or indirect, to make transactions on the market.