41,600 Resistance in Focus: Will Bulls Push Through or Pullback?
Updated
If the price successfully breaks through the 41,600 resistance level, it could signal further upward momentum, potentially leading to a continuation of the bullish trend. This breakout may attract additional buyers, pushing the price higher as market sentiment turns more positive. However, if the price fails to break through the 41,600 resistance, a pullback is likely. In that case, the price may retrace towards the 41,000 support level, where buying interest could emerge again. From there, the price may attempt another move towards the 41,600 resistance level, testing it once more. This level will be key in determining whether the market can sustain a bullish breakout or if it will remain range-bound between these levels.
Note
The price broke above the resistance level but then retraced to test it. The candle body closed above resistance, signaling a successful breakout. Expect potential upward movement.
Action: Watch for confirmation of continued strength above the resistance. Consider a long position if the price remains strong.
Trade closed: target reached
Target 42500 Achieved
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