Pattern Recognition:
A Head and Shoulders (H&S) reversal structure formed on the daily chart. The 1:1 measured move target has already been achieved, confirming the pattern’s validity.
Confluence Zone:
That 1:1 target aligns closely with the 0.618 retracement of the previous down leg (124,610 → 107,211). This adds weight to the idea that the move is corrective in nature rather than a fresh bullish leg.
Market Structure:
Even though price rallied strongly, the bigger picture shows a lower low was created when the 112,017 support level was broken. This keeps the macro trend bearish until proven otherwise.
Bearish Scenario:
Price is currently respecting the rising trendline. A break below this trendline followed by a retest could trigger continuation to the downside. Potential supports to watch:
112,017 (previous broken support, could flip resistance).
110,681 / 109,363 (structural levels).
108,432 (major demand zone).
RSI:
Momentum has cooled off without reaching overbought levels, suggesting that upside pressure is weakening.
A Head and Shoulders (H&S) reversal structure formed on the daily chart. The 1:1 measured move target has already been achieved, confirming the pattern’s validity.
Confluence Zone:
That 1:1 target aligns closely with the 0.618 retracement of the previous down leg (124,610 → 107,211). This adds weight to the idea that the move is corrective in nature rather than a fresh bullish leg.
Market Structure:
Even though price rallied strongly, the bigger picture shows a lower low was created when the 112,017 support level was broken. This keeps the macro trend bearish until proven otherwise.
Bearish Scenario:
Price is currently respecting the rising trendline. A break below this trendline followed by a retest could trigger continuation to the downside. Potential supports to watch:
112,017 (previous broken support, could flip resistance).
110,681 / 109,363 (structural levels).
108,432 (major demand zone).
RSI:
Momentum has cooled off without reaching overbought levels, suggesting that upside pressure is weakening.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.