The graphical analysis is as follows:
Target and Prices
• The chart shows that the 100,000 level is an important psychological resistance.
• If the rise continues, a movement towards upper targets such as 117,500 can be expected.
• The 97,000 and 95,500 regions stand out as lower support levels.
Support and Resistance
• Supports: The 97,000 and 95,500 areas are seen as critical support. The price is likely to react from these areas.
• Resistances: The 100,000 level is an important resistance point both psychologically and technically.
Indicators
• Trend Line: There is an ascending trend line and the price has touched this line several times. The strength of the trend is high.
• Momentum: There is a strong upward momentum in general.
• Volatility: The maintenance of horizontal supports and the continuation of the upward movement may indicate an increase in volatility.
Formation and Formation Reversals
• There are rising lows, indicating the strength of the uptrend.
• Triangle Formation: The price has broken the triangle formation upwards. This may be a sign of a continuing uptrend.
Trend Direction
• The overall trend is clearly upward, with higher lows and higher highs.
Strategy and Advice
1. Short-Term Transactions:
• A pullback to 97,000 levels may create a buying opportunity.
• Closing above the 100,000 level is approval for new purchases.
2. Long-Term Transactions:
• Positions can be maintained as long as the rising trend is not broken.
• The 95,500 level can be recommended for stop-loss.
3. Risk Management:
• It would be logical to consider taking profits after the resistance levels are tested.
• Increased volatility should be taken into consideration.
Clearly, the price is continuing its upward movement and a strong uptrend could gain momentum once the critical 100,000 level is broken. However, support levels need to be watched carefully.