Local timeframes, reversal patterns cause price to test downside resistance and confirm its presence. False breakout provokes sell-offs towards 2328, this area is key for traders. The market maker is interested in a retest of the liquidity zone, relative to which a false breakout and growth towards range resistance can take place. In general, the market is still neutral-negative in the local perspective, accordingly, it is acceptable to consider both buying and selling intraday.
Resistance levels: 2352, 2378
Support levels: 2328, 2306
The correction will end only after breaking through the descending resistance (area 2365-2370), but at the moment the market is still in the correction phase, which is developing within the 4 wave.
Resistance levels: 2352, 2378
Support levels: 2328, 2306
The correction will end only after breaking through the descending resistance (area 2365-2370), but at the moment the market is still in the correction phase, which is developing within the 4 wave.
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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.