In yesterday’s analysis, we highlighted that the $3,327–$3,328 support zone needed to hold for bulls to maintain momentum. Price respected that level, bouncing off intraday support and is now attempting a recovery.
Currently, the 50MA is acting as dynamic resistance, and we need to see a clean break above the $3,352–$3,356 resistance zone for bulls to challenge higher levels.
However, if price fails to break above this resistance cluster, we may see a pullback toward the $3,327 support once again. A break below that would likely expose price to a deeper retracement toward $3,298.
📌 Key Resistance:
‣ $3,352
‣ $3,356
‣ $3,364
‣ $3,383
📌 Key Support:
‣ $3,328
‣ $3,298
‣ $3,270
🧠 Fundamental Focus:
With U.S. markets partially closed today, expect low liquidity and increased volatility.
Currently, the 50MA is acting as dynamic resistance, and we need to see a clean break above the $3,352–$3,356 resistance zone for bulls to challenge higher levels.
However, if price fails to break above this resistance cluster, we may see a pullback toward the $3,327 support once again. A break below that would likely expose price to a deeper retracement toward $3,298.
📌 Key Resistance:
‣ $3,352
‣ $3,356
‣ $3,364
‣ $3,383
📌 Key Support:
‣ $3,328
‣ $3,298
‣ $3,270
🧠 Fundamental Focus:
With U.S. markets partially closed today, expect low liquidity and increased volatility.
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Related publications
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.