Technical outlook and chart setups:
As seen on the daily chart here, the overall bullish structure remains till prices are above 28.00/10 levels, which is re-enforced by the 0.786 Fibonacci retracement level of the entire upswing from sub 26.00 to 35.00 earlier. At the moment, the prices have tested the swing lows at 29.20/30. It is still recommended to stay long. Immediate support is at 29.00 followed by 28.10 on the lower side, while resistance is strong around the 32.50 region.
Trading recommendations:
Hold on to long positions taken earlier, stop is at 29.00, and target is open.
Good Luck!
