USNAS100 Consolidation Breakout Watch with Targets Above 20,420
The market is currently consolidating, trading within a descending channel.
A fake breakout occurred below the support line, but the price has quickly recovered, and the upper boundary of the descending channel is now being tested.
If the price breaks above 20,420, this could confirm a bullish reversal, with potential upside targets around 20,717 and 20,900.
If the price fails to break the channel and the consolidation zone, a bearish move could resume, retesting lower support levels at 20,126 or 19,990.
The key bullish support area is at 20,420, as breaking it would likely support the upward move toward 20710.
For now, monitor the breakout from the channel and consolidation zone for a clearer direction.
Key Levels:
Pivot Point: 20330
Resistance Levels: 20480, 20540, 20710
Support Levels: 20230, 20130, 19990
Trend:
- Bullish above 20330
- Bearish below 20330
A fake breakout occurred below the support line, but the price has quickly recovered, and the upper boundary of the descending channel is now being tested.
If the price breaks above 20,420, this could confirm a bullish reversal, with potential upside targets around 20,717 and 20,900.
If the price fails to break the channel and the consolidation zone, a bearish move could resume, retesting lower support levels at 20,126 or 19,990.
The key bullish support area is at 20,420, as breaking it would likely support the upward move toward 20710.
For now, monitor the breakout from the channel and consolidation zone for a clearer direction.
Key Levels:
Pivot Point: 20330
Resistance Levels: 20480, 20540, 20710
Support Levels: 20230, 20130, 19990
Trend:
- Bullish above 20330
- Bearish below 20330
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~6 analyses per day. With a clear entry point
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SM World and Economy News 24/7
Urgent News ⚡️:
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