Price action has followed a well-defined structure recently, providing several opportunities for analysis and potential setups.
We initially saw a pullback after a period of sideways movement, followed by a strong bullish move that led to a new high. This was followed by a consolidation phase, where the market took a breather before continuing upward.
After the recent peak, the market corrected again and is currently forming another range-bound structure. The $3,275.603 level is acting as a key support zone, which has held up well and could serve as a potential launchpad for the next bullish leg.
There are two key scenarios I’m watching:
1. Bullish Breakout – A break above the consolidation could target resistance zones at $3,365.634, $3,403.643, and possibly even $3,450.867.
2. Range Continuation – If support holds but momentum remains weak, we might see continued sideways movement before any decisive move.
We initially saw a pullback after a period of sideways movement, followed by a strong bullish move that led to a new high. This was followed by a consolidation phase, where the market took a breather before continuing upward.
After the recent peak, the market corrected again and is currently forming another range-bound structure. The $3,275.603 level is acting as a key support zone, which has held up well and could serve as a potential launchpad for the next bullish leg.
There are two key scenarios I’m watching:
1. Bullish Breakout – A break above the consolidation could target resistance zones at $3,365.634, $3,403.643, and possibly even $3,450.867.
2. Range Continuation – If support holds but momentum remains weak, we might see continued sideways movement before any decisive move.
Trade active
Trade closed: target reached
Note
hold target
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🔥 Join Now for Free
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🔥 Join Now for Free: t.me/JackMastermindGT
t.me/JackMastermindGT
📢 Join My Telegram channel Daily Free Signals Vip Group available Daily Signals XAUUSD BTCUSD USOIL 3/4 confirm Join VIP Group Accuracy 85%+
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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.