On Monday and extending through the week, there's a discernible bullish momentum. The key area of interest lies in the supply zone between 1930-1950. There are two plausible scenarios to anticipate:
The market could experience an immediate surge, surpassing the supply zone ranging from 1930-1950 without significant resistance.
Alternatively, we could observe a minor retraction where the market taps the 1940 mark and then undergoes a slight correction back to the 1900 area.
However, this would be a transient phase, as a subsequent bullish momentum is expected, powering through the aforementioned supply zone.
Should the market display a robust breakthrough beyond the 1950 benchmark, it would be a strong indicator of a sustained bullish phase, potentially soaring towards the 2100 mark.
The market could experience an immediate surge, surpassing the supply zone ranging from 1930-1950 without significant resistance.
Alternatively, we could observe a minor retraction where the market taps the 1940 mark and then undergoes a slight correction back to the 1900 area.
However, this would be a transient phase, as a subsequent bullish momentum is expected, powering through the aforementioned supply zone.
Should the market display a robust breakthrough beyond the 1950 benchmark, it would be a strong indicator of a sustained bullish phase, potentially soaring towards the 2100 mark.
Note
Next Week's SpeculationNote
3 Potential Scalp Zones for MondayIf the Market breaks below 80s then we are in for a sweet Bear Run
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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.