The price has initiated a bullish correction, moving from 83,120 to 86,319, following the recent bearish movement. However, this upward move appears to be a temporary retracement rather than a trend reversal. The market still exhibits bearish momentum, and once the correction phase concludes, the price is likely to resume its downward trajectory.
If the price fails to sustain above 86,319, selling pressure will likely increase, leading to a reversal back below 83,120. This level has previously acted as a minor support, and a decisive breakdown below it would confirm a continuation of the bearish trend. As the price declines, the first major support level to watch is 78,838, where buyers may attempt to slow down the sell-off. However, if bearish pressure remains dominant, the decline is expected to extend further, with the next key support level at 73,220.
If the price rises and stabilizes above 86,319, especially with a 4-hour candle close, it may trigger further upside toward 88,369 and potentially 94,231. However, unless the price breaks and holds above these resistance levels, the broader bearish trend remains intact.
Tendency Keys: 86,319
Resistance Line: 86.319, 88.369, 94.231.
Support Line: 83.120, 78.838, 73.220.
If the price fails to sustain above 86,319, selling pressure will likely increase, leading to a reversal back below 83,120. This level has previously acted as a minor support, and a decisive breakdown below it would confirm a continuation of the bearish trend. As the price declines, the first major support level to watch is 78,838, where buyers may attempt to slow down the sell-off. However, if bearish pressure remains dominant, the decline is expected to extend further, with the next key support level at 73,220.
If the price rises and stabilizes above 86,319, especially with a 4-hour candle close, it may trigger further upside toward 88,369 and potentially 94,231. However, unless the price breaks and holds above these resistance levels, the broader bearish trend remains intact.
Tendency Keys: 86,319
Resistance Line: 86.319, 88.369, 94.231.
Support Line: 83.120, 78.838, 73.220.
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about 4 Analysis per day.
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.