The price reached the downtrend line. We have to watch closely for price action in this zone. A new swing low allows us to draw a new uptrend line. We can consider this line as a signal one. If the market breaks below this uptrend line, probably we'll see downward movement to the previous low. But if the price breaks the downtrend line, it will be a good confirmation of a new upward movement. We can place pending orders for buy at 53.50 level with stop orders below the support zone . These trades will be good for long run. The part of long trades can be closed at 90.00 level.
