On the chart, we can see that price is holding above the recent lows at 3,291 and 3,314. At this stage, a purple consolidation zone has formed, with higher lows compared to the previous structure. All factors currently point toward a move up into the 3,386–3,367 range.
This outlook would be invalidated if price drops to the lower boundary of the purple consolidation.
This outlook would be invalidated if price drops to the lower boundary of the purple consolidation.
Trade closed: target reached
Price reached the first key level at 3,367 and then pulled back below it.
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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.