This chart illustrates a market structure analysis based on Smart Money Concepts (SMC) with marked order blocks, change of character (CHoCH), and break of structure (BOS) levels. Price recently made a strong bullish impulse, breaking previous highs and creating a weak high near 3,378.766. Currently, the market is consolidating around the 3,364 zone, with a potential retracement toward the support region around 3,351.903. Two possible scenarios are outlined: (1) price may retest the lower support and bounce back upward toward the weak high for continuation, or (2) it may fail to hold and break lower, targeting the demand zone near 3,320–3,310, labeled as a strong low. The chart suggests traders should watch for confirmation around key levels to determine whether bullish momentum continues or a deeper bearish correction unfolds.
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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.