After 4 days of correction, LPT finally broke through the falling supply trend line this morning and started a new round of rise.
1. Daily level
The price has not fallen below the 9D moving average after multiple corrections. Today's rise is still a rebound after touching the 9D moving average. It can be seen that the 9D moving average has strong support, which can be used as a basis in the later period. If the subsequent correction touches the 9D moving average again, it can be bought appropriately.
2. 4H level
Currently, the 4H level candle has a strong performance, and there are corrections at the 1H and 2H levels. The selling pressure is not large, and the performance is gratifying. This wave is likely to have room for growth.
3. Trading strategy
Long-term: Spot positions can continue to be held, and those who have not entered the market can wait for the 1H level correction to choose the opportunity to buy. If the correction does not fall below the 9D moving average, it can be held all the time.
Short-term: The first target is 20.97, and the second target is 22.09. When reaching the target position, some positions can be appropriately sold and then bought back at a low price.
