Technical Analysis
1. Trend Overview:
Uptrend Momentum: The market is currently showing bullish strength. The price has broken above key resistance levels, confirming upward momentum.
Higher Highs and Higher Lows: A structure of higher highs and lows supports the uptrend scenario.
2. Entry Point: 3313
This level may have been a breakout point or a retracement zone (e.g., 38.2% or 50% Fibonacci level) acting as a confirmation of bullish continuation.
If volume increased at this level, it adds confidence to the entry.
3. Target Point: 3500
The target suggests an upside potential of +183 pips, which is significant.
This level might align with a major resistance zone or a psychological round number.
4. Support and Resistance Zones:
Immediate Support: 3313 (entry), followed by 3280 and 3250.
1. Trend Overview:
Uptrend Momentum: The market is currently showing bullish strength. The price has broken above key resistance levels, confirming upward momentum.
Higher Highs and Higher Lows: A structure of higher highs and lows supports the uptrend scenario.
2. Entry Point: 3313
This level may have been a breakout point or a retracement zone (e.g., 38.2% or 50% Fibonacci level) acting as a confirmation of bullish continuation.
If volume increased at this level, it adds confidence to the entry.
3. Target Point: 3500
The target suggests an upside potential of +183 pips, which is significant.
This level might align with a major resistance zone or a psychological round number.
4. Support and Resistance Zones:
Immediate Support: 3313 (entry), followed by 3280 and 3250.
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Related publications
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.