Scenario 1: Bearish Rejection (Continuation)
If price fails to break above the resistance zone (3,259–3,274) and descending channel, a rejection here could lead to a continuation of the downtrend. Expect a potential drop toward the lower channel support around 3,100–3,080.
Scenario 2: Bullish Breakout (Reversal)
If price breaks and closes above the resistance zone and channel boundary with strong momentum, this could signal a trend reversal. The next target would be the 3,340–3,375 zone, with further upside possible if bullish volume increases.
Wait for confirmation before entering either direction.
Trade active
Bullish Breakout (Active)The market has broken above the resistance zone and upper boundary of the descending channel, reaching around 3,320. This confirms the bullish breakout, suggesting a potential move toward the next resistance near 3,340–3,375. Momentum remains strong, favouring continued upside.
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