We expected that the trendline will give a buy set up and that what happened yesterday. The price bounced from the trendline at around $950 and returned quickly above $1000 level. We still believe that the trendline will offer us some fresh long positions.
Conversely, if the trendline can't hold we expect a fall towards 50-day SMA at $900 and then $850. On the upside, we need to go above $1200 area to resume the uptrend.
Buying areas: $ 900, $850 and above $1200.
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