Above the price, the gray shaded zone may represent a previous area of consolidation or a supply zone (resistance), where price has been rejected before. The purple line and the black horizontal lines below seem to be marking potential support levels, as price is reacting near these zones.
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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.