Something is cooking #Superchartz

Key Levels:

Support: 3050

Resistance: 3290 3400 3900

Writeup:

1. **Change in Trend Direction:** Breakouts indicate a potential shift in the price trend.
2. **Bullish Breakout:** Price rises above an upward trendline, suggesting a potential uptrend.
3. **Bearish Breakout:** Price falls below a downward trendline, signaling a potential downtrend.
4. **Entry/Exit Signals:** Traders use breakouts to time their trades, entering or exiting positions.

**Support Levels:**
1. **Price Safety Nets:** Supports are price zones where buying interest historically occurs.
2. **Preventing Declines:** They prevent prices from dropping further.
3. **Horizontal and Trendline:** Supports can be specific prices or trendlines following the trend's slope.
4. **Trading Decisions:** Identifying support levels helps with setting stop-loss orders and finding buying opportunities.