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From the chart, it is seen that the price movement cannot go beyond a strong demand zone even after a time gap of more than 1 month. This implies the strong Resistance faced by the Sellers. Therefore, a Bullish trend is expected and hence Long position has to be created once the Buyers are able to push the price above the previous strong supply zone.
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Good spot. I recommend the candlestick chart for the better view
Thanks for pointing out. Will correct it for the next one.