The chart indicates a potential double-top formation near the 3005 level, suggesting a possible reversal if bearish confirmation appears. The price is testing a key resistance zone, and a rejection could lead to a decline toward the rising trendline for support. A confirmed break below this trendline might trigger further downside movement. However, a breakout above resistance could invalidate the bearish setup and signal continuation of the uptrend. Waiting for a clear confirmation is crucial before making any trading decisions.
For a short-term sell setup, potential targets:
- First target: 2,979 (initial support)
- Second target: 2,960 (if momentum increases)
If price breaks below these levels with strong bearish confirmation, then 2,940 could be the next short-term target.
For a short-term sell setup, potential targets:
- First target: 2,979 (initial support)
- Second target: 2,960 (if momentum increases)
If price breaks below these levels with strong bearish confirmation, then 2,940 could be the next short-term target.
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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.