The current market situation presents a somewhat mixed picture, to be frank. We find ourselves trading below the green box, indicating a bearish sentiment, but it's essential to note that we remain within an overall uptrend, which is a bullish sign. There's a likelihood of testing the trendline at around 4,430.
On the bullish front, a potential scenario involves reclaiming the 4,515 level, paving the way for a test of 4,630.
Conversely, on the bearish side, we might see a test of the 100-day Simple Moving Average (SMA) at approximately 4,360.
In summary, it's important to acknowledge that we are currently in a no-trade zone due to this mixed sentiment.
On the bullish front, a potential scenario involves reclaiming the 4,515 level, paving the way for a test of 4,630.
Conversely, on the bearish side, we might see a test of the 100-day Simple Moving Average (SMA) at approximately 4,360.
In summary, it's important to acknowledge that we are currently in a no-trade zone due to this mixed sentiment.
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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.