-Formation of the market:
The geopolitical situation brought strong uncertainty in the expectations of market participants, due to which the asset lost 4.5% of its price from the last high, and re-entered the wide consolidation channel 3300-3380.
-Forecast:
In the medium term, the main movement is likely to be in the consolidation range of 3300-3380.
The price could probably reach the imbalance/gap range of the opening session at 3365 and then return to test the support level at 3300.
-News Background:
The situation in the Middle East has turned peaceful, but it is worth watching for further developments as tensions remain.
The main focus on economic events is now centered on the PCE Index, which could trigger a move towards one of the consolidation channel boundaries.
The geopolitical situation brought strong uncertainty in the expectations of market participants, due to which the asset lost 4.5% of its price from the last high, and re-entered the wide consolidation channel 3300-3380.
-Forecast:
In the medium term, the main movement is likely to be in the consolidation range of 3300-3380.
The price could probably reach the imbalance/gap range of the opening session at 3365 and then return to test the support level at 3300.
-News Background:
The situation in the Middle East has turned peaceful, but it is worth watching for further developments as tensions remain.
The main focus on economic events is now centered on the PCE Index, which could trigger a move towards one of the consolidation channel boundaries.
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.