Technical Analysis Summary:
1. Pattern Breakdown:
Price has broken below an ascending trendline, signaling weakness after a strong bullish move.
A double-top or distribution phase can be inferred at the recent highs (around 23,100–23,200), confirming buyer exhaustion.
2. Ichimoku Cloud:
The price has dipped into the Ichimoku cloud, indicating indecision or early bearishness.
If it breaks below the cloud, it would confirm a bearish trend continuation.
3. Key Levels:
Resistance: Around 22,920 – 23,200 (recent highs)
Support: Multiple levels observed, but the major target is marked near 22,400.
This aligns with a prior consolidation zone, making it a likely demand area.
4. Price Action:
The projected path (gray line) suggests a potential retest of broken support, followed by a drop toward the 22,400 target.
Current price at 22,884 still offers room to the downside.
5. Volume/Events:
Economic events icons at the bottom (likely U.S. economic news releases) may trigger volatility and either confirm or reject this bearish setup.
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🔍 Conclusion:
Bias: Bearish short-term
Target: 22,400
Invalidation: A strong move back above 23,000 with bullish momentum
Strategy Suggestion: Watch for a break and close below the Ichimoku cloud, or a lower high rejection for a short entry confirmation.
1. Pattern Breakdown:
Price has broken below an ascending trendline, signaling weakness after a strong bullish move.
A double-top or distribution phase can be inferred at the recent highs (around 23,100–23,200), confirming buyer exhaustion.
2. Ichimoku Cloud:
The price has dipped into the Ichimoku cloud, indicating indecision or early bearishness.
If it breaks below the cloud, it would confirm a bearish trend continuation.
3. Key Levels:
Resistance: Around 22,920 – 23,200 (recent highs)
Support: Multiple levels observed, but the major target is marked near 22,400.
This aligns with a prior consolidation zone, making it a likely demand area.
4. Price Action:
The projected path (gray line) suggests a potential retest of broken support, followed by a drop toward the 22,400 target.
Current price at 22,884 still offers room to the downside.
5. Volume/Events:
Economic events icons at the bottom (likely U.S. economic news releases) may trigger volatility and either confirm or reject this bearish setup.
---
🔍 Conclusion:
Bias: Bearish short-term
Target: 22,400
Invalidation: A strong move back above 23,000 with bullish momentum
Strategy Suggestion: Watch for a break and close below the Ichimoku cloud, or a lower high rejection for a short entry confirmation.
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🔗 t.me/+VTrdWh5R_scwMGM0
✅ All PAIRS SIGNALS PROVIDE FIRST VISIT THEN JOIN
🔗 t.me/+jODseb0iIvxiNjc0
✅ REGISTER UNDER THE WORLD BEST BROKER
🔗 one.exnesstrack.org/a/6yzdfvn1po
✅ All PAIRS SIGNALS PROVIDE FIRST VISIT THEN JOIN
🔗 t.me/+jODseb0iIvxiNjc0
✅ REGISTER UNDER THE WORLD BEST BROKER
🔗 one.exnesstrack.org/a/6yzdfvn1po
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.