Technical Outlook and Chart Setup:
The structure remains unchanged for several days now. The noticeable factor here is the wedge structure that remains intact and also the trading range that is getting narrow. The range supports are as follows: 27.50, 27.00 and 26.50 while the range resistance remains constant at 28.30 level. A series of higher supports is the only confidence inducing factor here for the bulls to stage a breakout rally towards 29.00 and 30.00 levels. Stay long at the moment.
Trading Recommendations:
Stay long for positions taken earlier, target 30.00.
Good Luck!
