Price action continues to respect the resistance zone (OB-15M), showing clear buyer weakness and reinforcing the bearish bias.
Key Points:
1. Resistance Rejection – Multiple attempts to break above the resistance zone have failed, confirming strong selling pressure.
2. Market Structure – Consecutive Break of Structure (BOS) and Change of Character (ChoCh) point to sustained bearish momentum.
3. Liquidity Grab – The recent fake out above support collected liquidity before resuming the downward move.
4. Bearish Target Zones:
• First: Mitigate the remaining Fair Value Gap (FVG) in higher timeframes.
• Second: Reach the distribution zone near 3,322 – 3,316.
Conclusion:
Unless price breaks and holds above the resistance zone with strong volume, the path of least resistance remains to the downside, with sellers aiming to fill inefficiencies and reach deeper liquidity levels.
Key Points:
1. Resistance Rejection – Multiple attempts to break above the resistance zone have failed, confirming strong selling pressure.
2. Market Structure – Consecutive Break of Structure (BOS) and Change of Character (ChoCh) point to sustained bearish momentum.
3. Liquidity Grab – The recent fake out above support collected liquidity before resuming the downward move.
4. Bearish Target Zones:
• First: Mitigate the remaining Fair Value Gap (FVG) in higher timeframes.
• Second: Reach the distribution zone near 3,322 – 3,316.
Conclusion:
Unless price breaks and holds above the resistance zone with strong volume, the path of least resistance remains to the downside, with sellers aiming to fill inefficiencies and reach deeper liquidity levels.
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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.