Weekly chart:
The big picture is in a young uptrend, with the last high at $ 52.41. The last correction zone is not far away and runs between $ 52 and $ 46.37. Even though the weak start to the year was able to push the price downwards, the uptrend will remain intact until the last point three is broken at $ 46.37.
Daily chart:
In this trend size, similarly, we can also see a still-young uptrend, whose correction zone runs from $ 51.82 to $ 48.76. As long as this zone is upheld, the trend can still continue to progress upwards.
Hourly chart:
In the hourly chart we see the same trend as in the daily chart. As long as the green correction zone lasts here, too, a long trade can be risked with the appropriate reversal signals. The stop should then be located beneath the green correction zone. The first target could be placed at approx. $ 53.
I hope you will remain favorably disposed towards me and always remember: the journey is the reward!
All the best
Markus Gabel
Head of Sales/Trading
AgenaTrader/TradeEscort
AgenaTrader Trading Software
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