Minidollar (WDOM24) could reach 5,098.50 and intensify the flow of purchases

The mini-dollar contracts (WDOM24), expiring in June, closed the last session in the negative, registering a drop of 0.10% at 5,085 points.

Thus, based on last Tuesday’s closing, at 5,085 points, technical analyst Rodrigo Paz points out as supports 5,075/5,057.5 (1), 5,032 (2) and 5,021 (3). Meanwhile, resistance is in 5,098.5/5,114.5 (1), 5,131/5,136 (2) and 5,173.5 (3).

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Based on the 15-minute chart, it is possible to notice that the mini-dollar contract has made an OCOI (inverted shoulder-head-shoulder) graphic figure, which has already been triggered aiming at the resistance of the 5,098.5.

“For today (Wednesday), it is important to pay attention to the OCOI figure identified in yesterday’s session. As the figure has already been activated, the asset will be able to search for the region of 5,098.50. If this resistance region breaks, it could intensify the flow of purchases, in order to seek previous tops, but if it loses the region of 5,075 it could accelerate the decline in search of previous bottoms,” he says.

However, it is important to pay attention to the main support ranges. If the sales flow resumes and breaks the 5,075 points, can boost the sales flow, in order to seek the range of 5,057.5 with a longer target in the region of 5,032 points.

Dollar Futures (WDOK24): 60-Minute Chart

Analyzing the 60-minute chart, it is possible to observe that the mini-dollar closed with a slight drop in the last session, however, as the asset is still in a region of consolidation and at the bottom of the movement, we may see a continuation of its decline (for this it will be necessary to break the range of 5,057.5 points). If it surpasses the 5,098.50 region, the asset may seek targets higher at 5,132.

“For the asset to continue the buying flow, it must surpass the region of 5,098.50/5,103.50 points to then aim for the target range of 5,132 points. The longest objective will be the range of 5,173.5/5,187 points”, says analyst Rodrigo Paz.

If it continues the downward movement, it should break the range of 5,057.50 points. If broken, it should aim for the 5,021 region, with a longer target at 5,013 points.

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