Forecast Overview
The Forecast Line (Blue Line) indicates the expected direction of price movement.
The Upper Band (Green Line) and the Lower Band (Red Line) act as forecast range limits or volatility envelopes.
Linear Regression Line (Orange Line) shows the trend direction based on historical price.
📈 Bullish or Bearish?
The chart currently suggests a bullish bias, supported by:
Recent price bounce from the lower region and moving back above the linear regression line.
Candles are trying to re-enter the forecast channel, which implies a recovery attempt.
The last candle is a strong green bar showing +11.49% weekly gain, suggesting renewed bullish momentum.
However, caution is warranted:
Price is still below the forecast blue line and upper green band, which means a full bullish confirmation hasn't occurred yet.
🎯 Forecast Price Targets
Upper Forecast Price (Green Band): around $219.59
→ This is the highest level reached, and the green upper band may suggest the potential upside limit.
Forecast Line (Blue Line): around $210.67
→ This is the central bullish forecast, where price is expected to head if momentum continues.
Lower Forecast Price (Red Band): around $186.89
→ This is the bearish boundary, and price bouncing off it may confirm bullish defense.
✅ Summary
Bias: Mildly Bullish with recovery potential.
Forecast High: ~$219.59
Forecast Low: ~$186.89
A weekly close above $210.67 (blue line) would confirm a strong bullish breakout.
The Forecast Line (Blue Line) indicates the expected direction of price movement.
The Upper Band (Green Line) and the Lower Band (Red Line) act as forecast range limits or volatility envelopes.
Linear Regression Line (Orange Line) shows the trend direction based on historical price.
📈 Bullish or Bearish?
The chart currently suggests a bullish bias, supported by:
Recent price bounce from the lower region and moving back above the linear regression line.
Candles are trying to re-enter the forecast channel, which implies a recovery attempt.
The last candle is a strong green bar showing +11.49% weekly gain, suggesting renewed bullish momentum.
However, caution is warranted:
Price is still below the forecast blue line and upper green band, which means a full bullish confirmation hasn't occurred yet.
🎯 Forecast Price Targets
Upper Forecast Price (Green Band): around $219.59
→ This is the highest level reached, and the green upper band may suggest the potential upside limit.
Forecast Line (Blue Line): around $210.67
→ This is the central bullish forecast, where price is expected to head if momentum continues.
Lower Forecast Price (Red Band): around $186.89
→ This is the bearish boundary, and price bouncing off it may confirm bullish defense.
✅ Summary
Bias: Mildly Bullish with recovery potential.
Forecast High: ~$219.59
Forecast Low: ~$186.89
A weekly close above $210.67 (blue line) would confirm a strong bullish breakout.
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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.
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.