Upside Potential & Limits

Upside: Current price closing at 3,237.65 suggests bullish momentum, especially if it breaks past the 0.00% Fibonacci retracement level at 3,245.51.

Downside: Watch for retracements toward 3,170.50 (4.60%) or deeper corrections to 3,098.76 (9.00%) as potential support zones.

Support Zones:
3,000–3,020 (Monthly Fibonacci retracement area).
2,896.56 (Significant level as part of larger trend correction).

Resistance Zones:
3,245.51 (0.00% retracement—a key psychological resistance level).
3,300+ (Long-term targets based on projection trends).

Potential Targets: Target 3,300–3,350, with high-probability setups tied to breakout moves above 3,245.51.

Opportunities: Seek pullbacks toward Fibonacci retracement zones for swing trades, combining technical confirmation like candlestick patterns and volume surges.

Directional Bias:
Bullish continuation above 3,245.51 may lead to expansion toward 3,400–3,500 levels.
Monitor retracement levels to project corrective extensions, focusing on deeper support zones like 2,896.56.

Trend Analysis: Upward trend intact, supported by higher monthly lows and Fibonacci levels.

Consider timing significant moves based on:
Economic data releases or key trading hours in the US.
Breakouts or reversals during high-volume sessions.

Volume: Monitor changes in trading volume (1.51M currently) as a signal for trend confirmation or exhaustion.

Patterns: Look for candlestick patterns around key levels for entry signals (e.g., bullish engulfing above 3,245.51).