We can say that 2,700 has acted as a stable short-term support level. On the positive side:
- ]RSI is at 60 and above its moving average.
- Expectations for a Fed rate cut have strengthened.
- SuperTrend has flipped to a buy signal.
I think the 2,940 support level, which worked previously in July, may hold again and help drive the price higher. After that, a breakout from the descending channel could offer around a 24% upside in the short term.
- ]RSI is at 60 and above its moving average.
- Expectations for a Fed rate cut have strengthened.
- SuperTrend has flipped to a buy signal.
I think the 2,940 support level, which worked previously in July, may hold again and help drive the price higher. After that, a breakout from the descending channel could offer around a 24% upside in the short term.
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