After stabilizing above the pivotal zone at 39,410, the price has shifted towards a bullish trend. It appears poised for a retest of the 39,410 level, after which it is expected to resume its upward movement, provided it maintains stability above this pivot.
Current Outlook: The price will likely attempt a retest of around 39,400. Should it stabilize above this price, the bullish trend is expected to continue.
Bullish Scenario: Sustained stability above 39,410 will bolster the bullish trend, potentially driving the price towards 39,575, and further to 39,780.
Bearish Scenario: A bearish trend would be confirmed if the price breaks below 39,410 and 39,350, with targets at 39,230 and 39,045.
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.