Current structure: Price has broken out of the previous consolidation range and is currently trading above the range, but remains below major resistance.
🔴 Support — 83,663
A decisive breakdown below this level would invalidate the current bullish structure and could trigger a sharp downside move toward the next major support around 81,904.
🟡 Consolidation Zone — 83,950–84,150
This was the primary sideways range. If price re-enters this area, expect increased volatility and possible range-bound price action until a confirmed breakout occurs.
🔵 Resistance — 85,150
A clean breakout and sustained acceptance above this level could open the possibility of further upside momentum.
Key Scenarios
Above 85,150: bullish continuation setup.
Below 83,663: bearish breakdown setup.
Inside 83,950–84,150: avoid premature entries; wait for confirmation.
Trade the reaction, not the prediction. Wait for confirmation at the key levels.
🔴 Support — 83,663
A decisive breakdown below this level would invalidate the current bullish structure and could trigger a sharp downside move toward the next major support around 81,904.
🟡 Consolidation Zone — 83,950–84,150
This was the primary sideways range. If price re-enters this area, expect increased volatility and possible range-bound price action until a confirmed breakout occurs.
🔵 Resistance — 85,150
A clean breakout and sustained acceptance above this level could open the possibility of further upside momentum.
Key Scenarios
Above 85,150: bullish continuation setup.
Below 83,663: bearish breakdown setup.
Inside 83,950–84,150: avoid premature entries; wait for confirmation.
Trade the reaction, not the prediction. Wait for confirmation at the key levels.
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.