This is an attempt to recreate an analysis done by Ismail Hajjam for training purposes.
As you can see on the chart the ZN is on an upward trend, which can be seen by the two parallel lines that acts like resistance and support.
The deciding factor that will determine the probability in which the chart will go can be seen in the last resistance indicated by the blue arrow, it's a very important variable, you can see it clearly if you switch the chart to weekly or daily and see how the candles keep tapping the resistance. We wait to see when the break or the rebound will happen, and then make our decision to buy or sell.
As you can see on the chart the ZN is on an upward trend, which can be seen by the two parallel lines that acts like resistance and support.
The deciding factor that will determine the probability in which the chart will go can be seen in the last resistance indicated by the blue arrow, it's a very important variable, you can see it clearly if you switch the chart to weekly or daily and see how the candles keep tapping the resistance. We wait to see when the break or the rebound will happen, and then make our decision to buy or sell.