Remain flat. | 04 October 2022

Technical observation

On the daily chart above price has been stagnating slightly below the resistance level 144.83 and my expectation is a correction to the supportive zone 132.14-131.48 or a clear break above the level mentioned above. Today I anticipate possible bearish movements towards the zone indicated above and I would recommend that you remain neutral and wait for a correction to the same zone then pick long positions within it after a bounce with your take profit at 144.83 and stop-loss at 126.79. As it is on the weekly chart above, as long as price is sustained above the zone 132.14-131.48, I can only recommend bullish positions.

Trade recommendation

Remain neutral.