On the 15-minute IWM chart, the broader market structure recently shifted from bearish to bullish after printing a Change of Character (CHoCH) at 226.71, breaking above a prior lower high and signaling a potential reversal. This came after a strong rally from the 212.34 BOS point, where price had previously broken down and set a lower low. The current structure suggests buyers are attempting to reclaim control, and the higher-low pattern forming supports a continuation bias.
Demand is clustered between 217.80–218.80 and a deeper zone at 214.50–215.50. In both areas, buyers stepped in decisively in the past, causing swift upward moves, which marks them as strong zones. Supply is layered between 222.80–224.00 and 226.00–227.00. Price dropped sharply from both these regions previously, showing that sellers were aggressive there, with the upper zone being the key resistance tied to the CHoCH level.
In the marked region, price is consolidating just above the 218s demand zone, holding structure while failing to break higher immediately. This suggests a likely short pullback into the 218.00–218.80 area to reload buy orders before pushing toward the 224.00 mid-supply and possibly retesting the 226.71 high.
Trade bias: Bullish
Expected direction: Higher after a shallow pullback into demand
Invalidation level: A break below 217.80 would undermine the bullish setup
Momentum condition: Slightly favors buyers, with price maintaining higher lows despite stalling at resistance
Candle behavior: Small-bodied candles in consolidation, indicating accumulation rather than heavy selling
Demand is clustered between 217.80–218.80 and a deeper zone at 214.50–215.50. In both areas, buyers stepped in decisively in the past, causing swift upward moves, which marks them as strong zones. Supply is layered between 222.80–224.00 and 226.00–227.00. Price dropped sharply from both these regions previously, showing that sellers were aggressive there, with the upper zone being the key resistance tied to the CHoCH level.
In the marked region, price is consolidating just above the 218s demand zone, holding structure while failing to break higher immediately. This suggests a likely short pullback into the 218.00–218.80 area to reload buy orders before pushing toward the 224.00 mid-supply and possibly retesting the 226.71 high.
Trade bias: Bullish
Expected direction: Higher after a shallow pullback into demand
Invalidation level: A break below 217.80 would undermine the bullish setup
Momentum condition: Slightly favors buyers, with price maintaining higher lows despite stalling at resistance
Candle behavior: Small-bodied candles in consolidation, indicating accumulation rather than heavy selling
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Looking for powerful AI trading signals? Visit ProSignal.ai and take your trading to the next level! or join our telegram channel at t.me/prosignalai
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.