Price is currently consolidating between a clearly defined Support Zone and Resistance Zone after a strong bearish move.
Support has been respected multiple times, indicating short-term buying interest.
Resistance aligns with a previous supply zone, showing potential rejection or continuation bias.
Two possible scenarios are unfolding:
Bullish Breakout
If price breaks above the resistance zone, it could target the Order Block (OB) above, which is a key supply area from the last strong bearish move.
Break and retest of resistance would confirm bullish structure shift.
Target area: ~199.07
Bearish Continuation
A rejection from resistance could lead to another test of support.
A break below the support zone and the Weak Low would confirm bearish continuation.
Bearish target sits around 197.60 (lower liquidity grab zone).
Key Notes:
Watch for a Change of Character (ChoCH) for confirmation in either direction.
Volume and momentum confirmation will strengthen breakout bias.
Consider OB zone as a potential reversal or mitigation point.
Support has been respected multiple times, indicating short-term buying interest.
Resistance aligns with a previous supply zone, showing potential rejection or continuation bias.
Two possible scenarios are unfolding:
Bullish Breakout
If price breaks above the resistance zone, it could target the Order Block (OB) above, which is a key supply area from the last strong bearish move.
Break and retest of resistance would confirm bullish structure shift.
Target area: ~199.07
Bearish Continuation
A rejection from resistance could lead to another test of support.
A break below the support zone and the Weak Low would confirm bearish continuation.
Bearish target sits around 197.60 (lower liquidity grab zone).
Key Notes:
Watch for a Change of Character (ChoCH) for confirmation in either direction.
Volume and momentum confirmation will strengthen breakout bias.
Consider OB zone as a potential reversal or mitigation point.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.