Technical Outlook and Chart Setups:
Believe it or not, these intraday dips are opportunities to build long positions. Intermediary support remains at 30.60/70, followed by 30.20, while resistance is fixed at 33.60/70, followed by 34.30/40 and 35.10 respectively. It is recommended to hold long positions taken yesterday and look to add further longs on dips. It remains possible that another low might form around the 30.20/50 region before the next bull run begins. Trend moves upwards.
Trading Recommendations:
Hold on to long positions taken from yesterday, build further longs on intraday dips, stop is below 30.00. Target is open.
Good Luck!
The material has been provided by Instaforex Company - instaforex.com
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