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01. ASI has recently closed with a red candlestick pattern, indicating a potential bearish move. A crucial milestone for the next upward trend is breaking through resistance level #1.
02. The region between resistance levels #2 and #3 holds significant importance due to the convergence of technical factors. This area includes the neckline of a Cup and Handle (CnH) pattern and the 50-day moving average on the daily chart, making it a notable confluence zone.
03. To sustain its momentum, the RSI (Relative Strength Index) indicator should find support at trendline (TL) #3. Early indications of a breakout could emerge if the RSI successfully breaches trendlines #2 and #1.
01. ASI has recently closed with a red candlestick pattern, indicating a potential bearish move. A crucial milestone for the next upward trend is breaking through resistance level #1.
02. The region between resistance levels #2 and #3 holds significant importance due to the convergence of technical factors. This area includes the neckline of a Cup and Handle (CnH) pattern and the 50-day moving average on the daily chart, making it a notable confluence zone.
03. To sustain its momentum, the RSI (Relative Strength Index) indicator should find support at trendline (TL) #3. Early indications of a breakout could emerge if the RSI successfully breaches trendlines #2 and #1.