The price bounced off the lower band of the channel and now it is going to test 12 100 – 12 150 area and then the vicinity of 12 400 level. In long-term, the upper band of the channel formation will be our target.
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The price broke the resistance line (red) to the up and we can clearly see it is wavering between that line and a strong resistance level at 1204, which is going to be re-tested soon.