Key Levels & Technical Zones:
๐น Resistance Zone (๐ผ SELL Area):
๐ 3,315 โ 3,340
This area has been tested and rejected multiple times, as highlighted by the strong bearish wicks. The recent price action failed to break above it, triggering short interest.
๐น Minor Support Zone:
๐ Around 3,243
Acted as intraday bounce area previously, now likely to offer weak support in the coming move down.
๐น Major Demand Zone (๐ BUY Interest Zone):
๐ 3,120 โ 3,140
Labelled as "BEST SUPPORT DEMANDING ZONE" โ historical demand visible with strong bounce history. Ideal for monitoring bullish reversal opportunities.
๐ EMA Levels:
๐ด 50 EMA: 3,299
๐ต 200 EMA: 3,254
Current price action is hovering near the EMAs. The rejection at the resistance while below the 50 EMA indicates weakening bullish momentum.
๐ Market Structure Overview:
The double-top formation near the resistance shows exhaustion in buying.
Lower highs forming โ structure turning bearish short-term.
Solid rejection confirms that this is a valid zone to initiate short positions ๐๐.
๐ Forecast Path:
๐ฎ Projected Move:
Price is expected to break below minor support at 3,243.
Intermediate target: 3,206, then 3,167 ๐ .
Final destination: Demand Zone at 3,120 โ 3,140 ๐ฉ for potential bounce ๐.
๐ฌ "Market not break the resistance level and rejected solid โ this is a good entry for short-term sell trades." โ
โ Trade Idea Summary:
๐ฅ Bias: Short
๐ฏ TP Targets: 3,206 โ 3,167 โ 3,122
๐ SL Suggestion: Above 3,340 resistance zone
๐งญ Risk-Reward Setup: Favorable for short-term traders
๐น Resistance Zone (๐ผ SELL Area):
๐ 3,315 โ 3,340
This area has been tested and rejected multiple times, as highlighted by the strong bearish wicks. The recent price action failed to break above it, triggering short interest.
๐น Minor Support Zone:
๐ Around 3,243
Acted as intraday bounce area previously, now likely to offer weak support in the coming move down.
๐น Major Demand Zone (๐ BUY Interest Zone):
๐ 3,120 โ 3,140
Labelled as "BEST SUPPORT DEMANDING ZONE" โ historical demand visible with strong bounce history. Ideal for monitoring bullish reversal opportunities.
๐ EMA Levels:
๐ด 50 EMA: 3,299
๐ต 200 EMA: 3,254
Current price action is hovering near the EMAs. The rejection at the resistance while below the 50 EMA indicates weakening bullish momentum.
๐ Market Structure Overview:
The double-top formation near the resistance shows exhaustion in buying.
Lower highs forming โ structure turning bearish short-term.
Solid rejection confirms that this is a valid zone to initiate short positions ๐๐.
๐ Forecast Path:
๐ฎ Projected Move:
Price is expected to break below minor support at 3,243.
Intermediate target: 3,206, then 3,167 ๐ .
Final destination: Demand Zone at 3,120 โ 3,140 ๐ฉ for potential bounce ๐.
๐ฌ "Market not break the resistance level and rejected solid โ this is a good entry for short-term sell trades." โ
โ Trade Idea Summary:
๐ฅ Bias: Short
๐ฏ TP Targets: 3,206 โ 3,167 โ 3,122
๐ SL Suggestion: Above 3,340 resistance zone
๐งญ Risk-Reward Setup: Favorable for short-term traders
JOIN MY TELEGRAM CHANNEL
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
โคต๏ธone.exnesstrack.net/a/uvd1etcgg1
PARTNER CODEโคต๏ธ
uvd1etcgg1
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
โคต๏ธone.exnesstrack.net/a/uvd1etcgg1
PARTNER CODEโคต๏ธ
uvd1etcgg1
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.
JOIN MY TELEGRAM CHANNEL
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
โคต๏ธone.exnesstrack.net/a/uvd1etcgg1
PARTNER CODEโคต๏ธ
uvd1etcgg1
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
โคต๏ธone.exnesstrack.net/a/uvd1etcgg1
PARTNER CODEโคต๏ธ
uvd1etcgg1
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.