Price is showing signs of weakness after rejecting the highlighted supply zone, with sellers defending the recent highs. The market is currently testing a key support area near the moving averages, and a breakdown below this level could trigger further downside momentum.
As long as price remains below the resistance zone, the bearish correction scenario remains valid. A move toward 63,008 is possible, while extended selling pressure could push the market toward the 61,923 support level. Traders should monitor price action closely around current support, as it may determine the next directional move. 📉🎯
As long as price remains below the resistance zone, the bearish correction scenario remains valid. A move toward 63,008 is possible, while extended selling pressure could push the market toward the 61,923 support level. Traders should monitor price action closely around current support, as it may determine the next directional move. 📉🎯
Trade closed: stop reached
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Related publications
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.