CDSLTechnical Summary:
Trend Channel & Current Price Position:
The price is moving within an upward-sloping channel.
Currently, it is testing the lower trendline support, which is critical for further movement.
Fibonacci Retracement Levels:
0.382 level at 1,196.30 – a common retracement support.
0.5 level at 1,252.15 – another key retracement zone.
1.618 extension at 1,659.35 – potential upside target.
Key Support & Resistance Levels:
Support Levels:
1,252.15 (Fibonacci 50% retracement)
1,196.30 (Fibonacci 38.2% retracement)
Resistance Levels:
1,989.80 (previous high)
2,271.20 (extension target)
RSI Analysis:
RSI is at 36.70, nearing oversold territory.
The RSI moving average is at 51.74, confirming weakened momentum.
Market Trend & Risk:
If the price holds above 1,196 – 1,252, an upward move is possible.
A breakdown below this range may lead to further declines towards lower support (600-442.00).
Suggestions & Possible Corrections:
✅ Bullish Case: If 1,196 – 1,252 support holds, the price may attempt a reversal toward 1,659 – 1,989.
❌ Bearish Risk: If it breaks below 1,196, expect further downside toward 600–442 levels.
🔹 Final Recommendation:
Monitor price action near 1,252 – 1,196 levels for a reversal signal.
Wait for RSI confirmation (above 40) before entering long trades.
Avoid longs if the price breaks below 1,196.
