Medium-term, the instrument is in a falling trend 📉. The current market strength on a scale from zero to one hundred is 39. Working from sales 🔽 is recommended.
At the moment, the instrument is trading inside an ascending channel, with the lower boundary at level 1797.75 and the upper boundary at level 1887.74.
Taking into account the local trend, it is possible to speculate in long positions 🔼 when there is a breakthrough and consolidation above the level of 1887.74, or when there is a rebound from the lower boundary of the channel around 1797.75. However, a breakthrough of this level will favor a resumption and strengthening of the downtrend 📉, within which both speculative and medium-term sales 🔽 are possible.
As for the level of breaking the current medium-term trend, it is currently around 1897.65. A price breakout above this level will open up opportunities for a long position.