Analysis:
The price has experienced a strong uptrend but is now showing signs of resistance near the 3,054.161 level.
A support level is identified around 3,000, which has been tested multiple times.
A potential sell setup is indicated after the price retested a resistance-turned-support zone around 3,027.737.
The target for the downside move is marked at 2,942.844, aligning with a previous support level.
If bearish momentum continues, a further decline toward 2,915.859 is possible.
Trading Idea:
Sell Entry: Around 3,027-3,030 after confirmation of rejection.
Stop Loss: Above 3,054 (recent resistance).
Take Profit Targets:
TP1: 2,942
TP2: 2,915
Market Sentiment:
The price is reacting to key levels, and if it breaks below 3,000, it could accelerate the bearish move.
A break above 3,054 would invalidate the short setup and could push the price higher.
The price has experienced a strong uptrend but is now showing signs of resistance near the 3,054.161 level.
A support level is identified around 3,000, which has been tested multiple times.
A potential sell setup is indicated after the price retested a resistance-turned-support zone around 3,027.737.
The target for the downside move is marked at 2,942.844, aligning with a previous support level.
If bearish momentum continues, a further decline toward 2,915.859 is possible.
Trading Idea:
Sell Entry: Around 3,027-3,030 after confirmation of rejection.
Stop Loss: Above 3,054 (recent resistance).
Take Profit Targets:
TP1: 2,942
TP2: 2,915
Market Sentiment:
The price is reacting to key levels, and if it breaks below 3,000, it could accelerate the bearish move.
A break above 3,054 would invalidate the short setup and could push the price higher.
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.