The price has successfully broken out of the uptrend channel and is now trading outside of it. This shift indicates a potential change in market sentiment. Additionally, it has settled below the 281.57 level, reinforcing the likelihood of a further decline toward 233.63 and 195.54. Since this level now acts as resistance, sellers seem to be in control, and unless a strong reversal takes place, the bearish momentum may continue.
However, for a bullish scenario to be confirmed, the price needs to reclaim and stabilize above 281.57 and ideally move past the resistance zone. This would indicate renewed buying pressure and could trigger a move toward higher resistance levels like 328.20 and 362.80. Until that happens, the prevailing sentiment suggests that the downtrend is intact.
Tendency Keys: 281.57
Resistance Line: 281.57, 328.20, 362.80
Support Line: 233.63, 195.54
However, for a bullish scenario to be confirmed, the price needs to reclaim and stabilize above 281.57 and ideally move past the resistance zone. This would indicate renewed buying pressure and could trigger a move toward higher resistance levels like 328.20 and 362.80. Until that happens, the prevailing sentiment suggests that the downtrend is intact.
Tendency Keys: 281.57
Resistance Line: 281.57, 328.20, 362.80
Support Line: 233.63, 195.54
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With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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.
about 4 Analysis per day.
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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.