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The bullish trade scenario we were looking for (previous note below) has now manifested. Circled blue we see a piercing line candle pattern. The reversal pattern is supported by the Stochastic crossing out of oversold territory.
The initial target favoured from the move is considered at 51400. A break of this level calls for a move to our next resistance level of 52000. A close below 48940 is used as our failure / stop loss level in the current trade scenario.
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