Highlighted Previous Week's Highs and Lows:
I've marked the highest and lowest points of the previous week on the chart with horizontal lines labeled as "WEEKLY HIGH" and "WEEKLY LOW."
Potential Weekly Confirmation:
The market initially showed signs of a weekly confirmation; however, it reversed on Friday, preventing a clear confirmation of the trend.
Key Psychological Zone:
The weekly high falls into our psychological zone, indicating a critical area where market participants may look for potential reversals or significant price actions.
This analysis suggests close monitoring of the psychological zone for potential market movements, especially considering the recent reversal that affected the potential weekly confirmation.
I've marked the highest and lowest points of the previous week on the chart with horizontal lines labeled as "WEEKLY HIGH" and "WEEKLY LOW."
Potential Weekly Confirmation:
The market initially showed signs of a weekly confirmation; however, it reversed on Friday, preventing a clear confirmation of the trend.
Key Psychological Zone:
The weekly high falls into our psychological zone, indicating a critical area where market participants may look for potential reversals or significant price actions.
This analysis suggests close monitoring of the psychological zone for potential market movements, especially considering the recent reversal that affected the potential weekly confirmation.
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