After experiencing a sharp decline, the price rebounded within the support zone on Wednesday and has since traded above this level. If the price successfully closes a four-hour candle above this zone, it is likely to continue trading higher. In this scenario, I anticipate an upward movement toward the resistance area. Upon reaching this resistance zone, its strength is expected to exert downward pressure on the price, driving it back toward the support zone. Consequently, a period of consolidation between these levels may follow.
Bearish target: 20,2800. 20,110. 19,735
Bullish target: 21,030. 21385. 21570
Bearish target: 20,2800. 20,110. 19,735
Bullish target: 21,030. 21385. 21570
Trade active
The price completed its correction and initially declined as anticipated. However, it subsequently rose, due to staging a recovery rally after back-to-back losses. As an exemption for automakers on President Donald Trump’s tariffs offered hope for more concessions.The price remains above the support zone, with no significant indications of an upward movement. Therefore, we consider the decline to remain in effect as long as trading continues below 21,030.
Trade closed: target reached
FULL ATREGT +510 PIP PROFIT
Profit isn’t about luck, it’s about strategy. Get free signals and trade smarter: Telegram Channel [t.me/ArinaMarketAnalysis].
The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
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.
Profit isn’t about luck, it’s about strategy. Get free signals and trade smarter: Telegram Channel [t.me/ArinaMarketAnalysis].
The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
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.