1. Support and Resistance Levels
• Support: The 6.50 - 6.80 area appears to be a significant support area. This is a level where price has reacted many times in the past.
• Resistance: The 9.50 level is an important short-term resistance area. In the medium term, the 12.00 - 12.50 range stands out as the next resistance.
• In the long term, the target area on the chart points to 17.00 levels.
2. Indicators and Formations
• Trend Line: It appears that the downtrend has been broken and the price is now correcting towards this breakout area.
• Formation: A structure similar to a “cup-handle” formation or a “double bottom” formation may be seen on the chart. These formations may be the harbingers of a strong upward movement.
• RSI: RSI is not given on the chart, but it is thought to be close to the oversold area. This could be a potential recovery signal.
• Volume: Volume movement is increasing. This can be evaluated as confirmation of an upward breakout.
3. Trend Direction
• There is a high probability of an upward trend in the medium and long term. In particular, the current declines may be an opportunity for an “upward correction”.
• While the trend continues upwards, it is important not to break the support zones.
4. Target and Prices
• Short term target: 9.50 - 10.00 range.
• Medium term target: 12.50 level.
• Long term target: 17.00 and above levels.
5. Strategy
• Buying Strategy: Accumulation can be made from the 6.50 - 6.80 area. If a drop occurs below this level, stop-loss should be used.
• Target: The first target is the 9.50 level, the second target is the 12.00-12.50 range.
• Risk Management: Below the 6.50 level, the area up to 5.80 can be monitored. If these levels are lost, selling pressure may increase.
Recommendation
• If the price reacts strongly to the current support area, the uptrend may continue.
• Volume and indicators should be followed. In upward movements, profits can be realized from resistance levels.
• If the price cannot hold in the support area, stop-loss should be used.