Strong Support and Breakout Retest Suggest Bullish Continuation 
2024-10-08

In the daily chart, it’s unlikely the price will drop, as strong support was found at 220 from April to October. The current state is a breakout retest of the major resistance at 615.

On the 4-hour chart, the price has been ranging for two weeks, with 602 acting as new support. A strong bearish wick appeared on October 7 at 1pm, but high volume has not yet confirmed it.

On the 1-hour chart, from 670, the price did not return to the value zone quickly (as candles shows some hesistation), indicating some buying interest between 604 and 630, suggesting buying pressure. A bearish wick with high volume appeared at 4pm, suggesting that greater demand level is around 600 than 610.

Consider entering a long trade around 600, with a take-profit target at 640