Support Level: I have identified the support level at 2665. This is the price point where the market could potentially find stability or reverse its direction if it moves lower. If the price drops to or near this level, we might see buying activity, which could lead to an upward movement.
Resistance Level: The resistance has been placed at 2711 today. This is the price level where selling pressure is likely to emerge. If the price reaches this point, there could be a reversal or pullback as sellers may try to push the price lower. However, if the price manages to break through this resistance level, we could see further upward movement.
Key Observations:
There is a possibility of breaking through the resistance at 2711. This indicates that the market might have enough strength to push past this barrier and continue higher. Target for Today: The first target is 2688. This target represents a key level where the market may move towards, considering current trends and momentum. Reaching 2688 could indicate a positive short-term outlook. The second target is 2680. This level is slightly lower but still within range. It represents a potential point of resistance or support depending on market conditions. These levels are important for monitoring price action and making informed trading decisions throughout the day. If the price behaves as expected, we could see it testing these targets, especially if the market remains volatile.
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