BAY-GR forecast/ Our Expectations:
Uptrend and correction to 38.2 Fibonacci. Support levels - diagonal and horizontal. A formed pin bar with a long lower shadow enhances the likelihood of upward movement, and a correction near the bottom of the bar gives a good positioning price. The SMA50 / 200 are in a bullish formation and DeM (14) is in an oversold zone, as an upwards reversal below 0.3 will confirm the probability of an upward impulse. Entry now with less risk or after reversal of DeM and price above 50 SMA. SL at 107.75.
Alternative Scenario: If the price crosses below the support levels and moving averages, this will make the short positions more logical.
Trader Nikolay Georgiev
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