Current price: 23.32
Key point: 23.50
Our preferred direction: buy positions above the 23.50 level, targeting 24.40 as the first target, then 25 as the second target.
Alternative scenario: Stop loss and change the trend by breaking the 23.50 level, targeting 22.40 levels
Technical commentary
Jabal Omar stock is moving in a downward direction on the daily frame and from a downward trend line from the top of the year 2021, penetrating the ascending channel from the bottom of this year.
The price currently stabilizes at the support levels 22.75-23.50, so some upward correction is expected to the 25.00 levels, and then we wait for the price to deal with this level.
