Support and Resistance:
The price recently tested a support level (around 2,940) and bounced back up.
The resistance area is marked around 2,970.
2. Breakout and Retest Strategy:
The price has broken above the resistance level.
If the price retests this resistance-turned-support and holds, it could continue to rise.
3. Forecast:
If the price stays above 2,970 after retesting, an upward move is expected, potentially continuing a bullish trend.
If it fails to hold above 2,970, it may fall back into the previous range (below 2,940).
The price recently tested a support level (around 2,940) and bounced back up.
The resistance area is marked around 2,970.
2. Breakout and Retest Strategy:
The price has broken above the resistance level.
If the price retests this resistance-turned-support and holds, it could continue to rise.
3. Forecast:
If the price stays above 2,970 after retesting, an upward move is expected, potentially continuing a bullish trend.
If it fails to hold above 2,970, it may fall back into the previous range (below 2,940).
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.
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.