In my previous analysis dated May 29, I outlined the current market structure and shared expectations for a potential correction. Following recent price action, I have now updated our buy zone accordingly.
As anticipated, I continue to expect a corrective move toward the 3,200–3,233 range. This zone aligns with the 0.50–0.618 Fibonacci retracement levels, making it a key area of interest. I will be closely monitoring price behavior within this range and looking for signs of rejection or bullish confirmation to initiate long positions.
Further updates will follow as the setup develops.
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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.