1. Trend Structure:
Price is moving within a well-defined downward-sloping channel.
It’s respecting both the upper resistance and lower support of the channel.
2. Current Position:
Price has bounced from the lower boundary of the channel.
It’s now testing the midline or approaching the upper resistance.
3. Potential Scenarios:
🔼 Bullish Case: If price breaks above the upper trendline, it could signal a short-term reversal or bullish breakout.
Target zones could be: 3,370 → 3,390 → 3,410.
🔽 Bearish Continuation: If price gets rejected from the upper channel, we may see a return to the lower support around 3,330 or even lower.
Strategy Suggestion:
Wait for confirmation of a breakout above the channel before entering a buy.
If rejected, selling with a stop above the channel might be safer for a short-term trade.
Let me know if you want a written analysis in Urdu or a trading plan with SL/TP (stop-loss / take-profit) levels.
Price is moving within a well-defined downward-sloping channel.
It’s respecting both the upper resistance and lower support of the channel.
2. Current Position:
Price has bounced from the lower boundary of the channel.
It’s now testing the midline or approaching the upper resistance.
3. Potential Scenarios:
🔼 Bullish Case: If price breaks above the upper trendline, it could signal a short-term reversal or bullish breakout.
Target zones could be: 3,370 → 3,390 → 3,410.
🔽 Bearish Continuation: If price gets rejected from the upper channel, we may see a return to the lower support around 3,330 or even lower.
Strategy Suggestion:
Wait for confirmation of a breakout above the channel before entering a buy.
If rejected, selling with a stop above the channel might be safer for a short-term trade.
Let me know if you want a written analysis in Urdu or a trading plan with SL/TP (stop-loss / take-profit) levels.
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.
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.