The market is in the uptrend on the Daily price chart, and the correction wave develops.
A pullback buying opportunity will appear after the correction completion on the Daily timeframe. Based on the price chart, this may happen in the near future.
The highs of September 10 – 12 will be the target for the bullish movement continuation after the correction is finished.
In case of successful development of the trend, a more distant target will be on the highs of August 12 – 15, where the next resistance is located with the borders of $1,986 – $2,034.
Long positions will remain relevant until the market is above the nearest support level on the Daily chart, the lows of September 6 – 8. The borders of this support are $1,494 – $1,555.
A pullback buying opportunity will appear after the correction completion on the Daily timeframe. Based on the price chart, this may happen in the near future.
The highs of September 10 – 12 will be the target for the bullish movement continuation after the correction is finished.
In case of successful development of the trend, a more distant target will be on the highs of August 12 – 15, where the next resistance is located with the borders of $1,986 – $2,034.
Long positions will remain relevant until the market is above the nearest support level on the Daily chart, the lows of September 6 – 8. The borders of this support are $1,494 – $1,555.