🔍 Technical Breakdown
Price is currently hovering around 3,371, testing a key resistance zone. This level aligns with a Fibonacci retracement and a marked order block, suggesting a potential reversal area.
Resistance Zone: 3,371.487
Support Levels: 3,361.705 and 3,354.190
Indicators Used: Fibonacci Retracement, Order Block
A red arrow on the chart illustrates a projected bearish move. If price fails to break above the resistance, we may see a retracement toward the lower support levels.
📌 Trade Idea
Watch for bearish confirmation (e.g., rejection candles, volume spikes) near the resistance zone. A short position could be considered with a target near the support levels and a stop above the resistance.
Price is currently hovering around 3,371, testing a key resistance zone. This level aligns with a Fibonacci retracement and a marked order block, suggesting a potential reversal area.
Resistance Zone: 3,371.487
Support Levels: 3,361.705 and 3,354.190
Indicators Used: Fibonacci Retracement, Order Block
A red arrow on the chart illustrates a projected bearish move. If price fails to break above the resistance, we may see a retracement toward the lower support levels.
📌 Trade Idea
Watch for bearish confirmation (e.g., rejection candles, volume spikes) near the resistance zone. A short position could be considered with a target near the support levels and a stop above the resistance.
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.