Price has reached a key mid-term resistance zone (29-32) for a bounce since Apr bottom.
As long as price remains below the 32 (with max. extension to 34) resistance area, I continue to favor the scenario of another leg lower unfolding in the coming weeks.
Should price break and hold above 32–34, the current trend structure would require reassessment.
Thanks for your attention, and best of luck with your trading!
As long as price remains below the 32 (with max. extension to 34) resistance area, I continue to favor the scenario of another leg lower unfolding in the coming weeks.
Should price break and hold above 32–34, the current trend structure would require reassessment.
Thanks for your attention, and best of luck with your trading!
Note
Alternate Bullish ScenarioWhile this isn’t my base case just yet, I’m keeping an eye on a potential alt bullish structure if the market decides to break higher (even beyond ATH).
Daily:
1H chart is showing constructive price action, basing nicely above the rising 21 EMA, which could support a move higher:
Делюсь опытом работы на финансовых рынках в личном блоге: t.me/marketartistry
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.
Делюсь опытом работы на финансовых рынках в личном блоге: t.me/marketartistry
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.