Demand Zones (Yellow Boxes):
The highlighted yellow zones indicate demand areas where buying interest is expected. Price might retrace to these zones before a potential move is higher.
Imbalance and Price Targets:
The chart illustrates an imbalance in price action, likely from a rapid bearish move (shown in the earlier left side). This is marked with a potential corrective wave.
Projection (Red Arrow):
A retracement is expected, possibly to test a lower level of support (around 2,641 or lower to the demand zones). After retracement, a bullish move towards the yellow resistance area (2,684 zone) is anticipated.
Structure:
The recent trend shows higher highs and higher lows, hinting at bullish momentum after the previous sell-off.
The highlighted yellow zones indicate demand areas where buying interest is expected. Price might retrace to these zones before a potential move is higher.
Imbalance and Price Targets:
The chart illustrates an imbalance in price action, likely from a rapid bearish move (shown in the earlier left side). This is marked with a potential corrective wave.
Projection (Red Arrow):
A retracement is expected, possibly to test a lower level of support (around 2,641 or lower to the demand zones). After retracement, a bullish move towards the yellow resistance area (2,684 zone) is anticipated.
Structure:
The recent trend shows higher highs and higher lows, hinting at bullish momentum after the previous sell-off.
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.