The price breached the downtrend line with high volume
and rallied to change the market structure. This strong momentum increased the RSI
to the 70-ish level. The price may now consolidate a bit to cool off the RSI
, before giving the next leg upwards. This seems like a good time to accumulate. The market structure is clearly bullish
and all the dips must be seen as buy opportunities.
The target which I am looking at is 121.
You are always advised to use an appropriate Risk-Reward ratio as per your strategy.
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P.S: This is NOT investment advice. This chart is meant for learning purposes only and is a part of my personal journal. Invest your capital at your own risk.