$SKL futures trading analysis indicates a LONG opportunity with an entry point of $0.038 - $0.040, supported by the 5/9 EMA above the 21 EMA and a bullish engulfing pattern.
The stop-loss (SL) is placed at $0.034, below the 61.8% Fib support, while the ideal take-loss (TP) is $0.044 - $0.046, targeting the 23.6% Fib resistance and the upper Bollinger Band.
Reasons for a strong entry: - Bullish momentum with the Parabolic SAR uptrend - Solid support at $0.035 (50% Fib) and $0.031 (61.8% Fib) - Volume has increased 15% in 24 hours, supporting a breakout Be aware of the $0.044 resistance and the tightening Bollinger Bands.