Key Developments:
Price just closed above the 21,200 key level with a modest bullish footprint.
Positive delta (+18) with relatively light total volume (~110 contracts) suggests controlled buying rather than aggressive initiative buyers.
Buyers successfully absorbed the heavy selling pressure from the previous candle (delta -293) and pushed price higher — a short-term bullish signal.
📊 What This Means:
The market is showing signs of potential reversal after holding 21,160 and reclaiming 21,200.
If buyers can maintain strength above 21,200, we may see a move toward the 21,240–21,260 resistance zone.
Watch for increased buy imbalances and stronger delta on the next candles to confirm follow-through.
⚠️ Caution:
A failure to hold 21,200 and a drop back below it could signal a bull trap, leading to a re-test of 21,160 or even 21,120.
📍Levels to Watch:
Support: 21,200 → 21,160 → 21,120
Resistance: 21,240 → 21,260 → 21,300
🧩 Current Bias: Cautiously Bullish – Awaiting confirmation from next candle’s order flow.
📌 Stay disciplined. React, don’t predict.
Price just closed above the 21,200 key level with a modest bullish footprint.
Positive delta (+18) with relatively light total volume (~110 contracts) suggests controlled buying rather than aggressive initiative buyers.
Buyers successfully absorbed the heavy selling pressure from the previous candle (delta -293) and pushed price higher — a short-term bullish signal.
📊 What This Means:
The market is showing signs of potential reversal after holding 21,160 and reclaiming 21,200.
If buyers can maintain strength above 21,200, we may see a move toward the 21,240–21,260 resistance zone.
Watch for increased buy imbalances and stronger delta on the next candles to confirm follow-through.
⚠️ Caution:
A failure to hold 21,200 and a drop back below it could signal a bull trap, leading to a re-test of 21,160 or even 21,120.
📍Levels to Watch:
Support: 21,200 → 21,160 → 21,120
Resistance: 21,240 → 21,260 → 21,300
🧩 Current Bias: Cautiously Bullish – Awaiting confirmation from next candle’s order flow.
📌 Stay disciplined. React, don’t predict.
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.