Nov. 14 at 4:24 AM
$LB: The last close at
$73.11 indicates a strong position above the MA30 of
$60.22 and MA50 of
$57.38, suggesting bullish momentum. The RSI at 65.33 indicates the asset is nearing overbought territory, which could lead to a pullback. However, the price is still below the 60D high of
$85.6, allowing for potential upside.
Directional bias is bullish due to the price being above key moving averages and the recent high. Suggested entry is at
$73.50 to capture upward momentum. Set a stop loss at
$68.50 to manage risk, considering the ATR of
$4.62.
Targets can be set at
$80.00 (near the 60D high) and
$85.00 as a secondary target, allowing for a favorable risk-reward ratio. Monitor RSI for signs of reversal as targets are approached.
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