Upswing is poised to test pivot-level 1643.38, where we can get either a further upward break in direction 1700.00 (black arrow) or a downward reversal (blue trajectory). Thus it’s important to monitor market reaction on this level.
Bulls after a substantial accumulation has confidently broken another pivot-zone 1619.00-1621.00. Thus we expect reach of 1643.38 and probable attack of buyers.
Main scenario: Break of 1643.38 and extension of growth in direction 1700.00.
Alternative scenario: Growth to 1643.38 and following downward reversal.
Longs to 1643.38 and 1700.00.
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