The commodity has formed a clear down trend well seen on the H4 chart. The plan here is to wait for a clear break above this down trend line and the resistance zone around 46.50. This should push price to 50.00 and higher. It is important to remember that we can see lower levels from here, so please wait for clear break and confirmation of the down trend line and resistance before entering.
Technical Overview:
H4 – trend line and support
Entry:
H4 – Wait for break of the down trend line and the resistance zone around 46.50, confirmation of the break and then go long.
Target 1: 49.00
Target 2: 51.00
Stop Loss: below 46.50
Video Explanation:
Yours,
Vladimir
