Summary
The chart shows a strong uptrend with a recent breakout above the previous resistance near the 320 level. The latest candle is a large bullish candle breaking out to new highs, indicating strong buying momentum.
Rationale
The recent breakout candle above resistance near 320 suggests strong bullish momentum and a good entry point for a long trade. The stop loss is placed just below the breakout level and recent consolidation area to limit risk. The target allows for a favorable risk-reward ratio based on the uptrend's strength and historical price swings.