1. Support and Resistance Levels:
A support level has formed around 2,975, which could act as a buying zone.
The next resistance area is near 2,995, where price may face selling pressure.
2. Price Action and Projection:
The price has broken above previous levels and is now consolidating.
The forecast suggests a bullish movement towards 2,995, with a possible retest of support before further upward movement.
3. Key Considerations:
If the price holds above 2,975, the uptrend remains intact.
A clean break above 2,995 could lead to a strong continuation upward.
If 2,975 fails as support, a pullback to lower levels could occur.
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.