1. Uptrend & Reversal (Left side - Blue Trendline):
• The chart initially shows a strong uptrend, represented by the blue ascending trendline.
• Price peaked near the brown resistance zone (around 3437).
• A bearish reversal occurred after touching that resistance.
2. Downtrend Initiated (Right side - Blue Downward Trendline):
• A descending trendline marks a consistent downtrend following the peak.
• The price made lower highs and lower lows, confirming the bearish momentum.
3. Support Zone (Red Box near 3210 - 3208):
• Price reached a demand/support zone between 3217 – 3208 (red shaded box).
• This area acted as a reversal or consolidation zone, preventing further decline.
4. Target Area (Green Box and Black Arrow):
• The green box shows a recent bullish bounce from the support.
• Price bounced up and touched 3249.984—the level marked with the black arrow.
• This likely represents the short-term target, which has been achieved.
5. Resistance Area (3275 – 3277):
• Price is approaching or testing minor resistance around 3277, suggesting a possible barrier to further upside.
• The chart initially shows a strong uptrend, represented by the blue ascending trendline.
• Price peaked near the brown resistance zone (around 3437).
• A bearish reversal occurred after touching that resistance.
2. Downtrend Initiated (Right side - Blue Downward Trendline):
• A descending trendline marks a consistent downtrend following the peak.
• The price made lower highs and lower lows, confirming the bearish momentum.
3. Support Zone (Red Box near 3210 - 3208):
• Price reached a demand/support zone between 3217 – 3208 (red shaded box).
• This area acted as a reversal or consolidation zone, preventing further decline.
4. Target Area (Green Box and Black Arrow):
• The green box shows a recent bullish bounce from the support.
• Price bounced up and touched 3249.984—the level marked with the black arrow.
• This likely represents the short-term target, which has been achieved.
5. Resistance Area (3275 – 3277):
• Price is approaching or testing minor resistance around 3277, suggesting a possible barrier to further upside.
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World Best Signals Channel here 🤝
XAUUSD Gold
BTC & other coins
EURUSD
USDJPY
GBPUSD
ETH USD
Telegram channel 👇
t.me/+1b_A_JwswN01Nzc0
XAUUSD Gold
BTC & other coins
EURUSD
USDJPY
GBPUSD
ETH USD
Telegram channel 👇
t.me/+1b_A_JwswN01Nzc0
Related publications
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.