Will CPO Resume Uptrend after 6100?
Technical View:
1. Again Inside bar formed at support level of 5500 which indicates reversal signal, that market likely to resume uptrend.
2.Stochastic showed K line moving slightly below middle level of 50 in both daily and weekly chart which indicates market may move in sideway or ranging.
We expect market may in range to higher if market able to break and stay above 6100 level.
Suggestion Trade:
Long if stay above 6030
Target Stop Loss (support level) 5828
Target Profit level (resistance level)
TP1 6232 TP2 6636
Short if stay below 5525
Target Stop Loss (resistance level) 5727
Target Profit level (support level)
TP1 5323 TP2 4919
Disclaimer: Trading Carries Risks.
Happy Trading!! Cheers.
1. Again Inside bar formed at support level of 5500 which indicates reversal signal, that market likely to resume uptrend.
2.Stochastic showed K line moving slightly below middle level of 50 in both daily and weekly chart which indicates market may move in sideway or ranging.
We expect market may in range to higher if market able to break and stay above 6100 level.
Suggestion Trade:
Long if stay above 6030
Target Stop Loss (support level) 5828
Target Profit level (resistance level)
TP1 6232 TP2 6636
Short if stay below 5525
Target Stop Loss (resistance level) 5727
Target Profit level (support level)
TP1 5323 TP2 4919
Disclaimer: Trading Carries Risks.
Happy Trading!! Cheers.
Disclaimer
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