Key Observations:
1. Support Zone: The price is expected to test the support level before moving higher.
2. Bullish Momentum: The projection suggests a continuation of the uptrend, likely driven by fundamental factors such as geopolitical uncertainties and a weaker USD.
3. Target Resistance: The price may reach the $3,050 level if bullish momentum sustains.
Forecast:
Bullish Scenario: If the price holds the support and forms a reversal pattern, it could rise towards $3,050.
Bearish Risk: A break below the support zone may invalidate the bullish setup, leading to a potential downward move.
1. Support Zone: The price is expected to test the support level before moving higher.
2. Bullish Momentum: The projection suggests a continuation of the uptrend, likely driven by fundamental factors such as geopolitical uncertainties and a weaker USD.
3. Target Resistance: The price may reach the $3,050 level if bullish momentum sustains.
Forecast:
Bullish Scenario: If the price holds the support and forms a reversal pattern, it could rise towards $3,050.
Bearish Risk: A break below the support zone may invalidate the bullish setup, leading to a potential downward move.
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.