The Price Action is currently in an uptrend, Both the 20 Day EMA and the 50 Day SMA are Raising, which is a Good Sign for the Buyers. The Price has been Rebounded from the 20 Day EMA Twice even now we can see it taking Support and the Price might kick off from here, RSI Indicator tells us the demand exceeds supply by 10% and the Bulls are on Hold.
If the Trend continuous in this Direction it might Face a Strong Resistance at $59680.13 followed by $61979.63, if this Resistance Breaks then the new Uptrend begins.
Traders should keep an eye on the 20 Day EMA, If it breaks Profit Booking might be Set and the long position as to be avoided.
If the Trend continuous in this Direction it might Face a Strong Resistance at $59680.13 followed by $61979.63, if this Resistance Breaks then the new Uptrend begins.
Traders should keep an eye on the 20 Day EMA, If it breaks Profit Booking might be Set and the long position as to be avoided.