Will CPO Retest 6800?
Technical View:
Market closed higher after reversed earlier session gains and formed bearish pin bar which indicates strong selling force in the market
However, Stochastic K% line shows market trend uncertain with K% moving at 55 and 47 level in daily and weekly charts respectively.
We expect market likely to move lower with immediate resistance level at 6500.
Suggestion Trade:
Short if stay below 6200
Target Stop Loss (resistance level) 6399
Target Profit level (support level)
TP1 6001 TP2 5603
Long if stay above 6615
Target Stop Loss (support level) 6416
Target Profit level (resistance level)
TP1 6814 TP2 7212
* DISCLAIMER: FOR INFO ONLY. TRADING CARRIES RISK *
Market closed higher after reversed earlier session gains and formed bearish pin bar which indicates strong selling force in the market
However, Stochastic K% line shows market trend uncertain with K% moving at 55 and 47 level in daily and weekly charts respectively.
We expect market likely to move lower with immediate resistance level at 6500.
Suggestion Trade:
Short if stay below 6200
Target Stop Loss (resistance level) 6399
Target Profit level (support level)
TP1 6001 TP2 5603
Long if stay above 6615
Target Stop Loss (support level) 6416
Target Profit level (resistance level)
TP1 6814 TP2 7212
* DISCLAIMER: FOR INFO ONLY. TRADING CARRIES RISK *
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