As they say, a picture paints a thousand words — and here we are again at the 93.74–95.03 pivot resistance, a zone that has proved key since 2022. Success or failure here dictates the direction of the next 15 big-figure move.
A few things worth flagging on the weekly timeframe:
MACD is just turning positive
DMI is also turning positive, though ADX has yet to confirm a trend is underway
Price is currently trading just above the weekly cloud
Below, the 78.40 area (aligned with the 200-week MA) remains the key support/pivot from the 2025 range, with the 55.12/30 lows marking the base of that move.
Taken together, this leans toward fortune favouring the upside — but I'd want to see a confirmed weekly close above 95.03 before treating that as anything more than a lean.
Not trading advice, do your own research — for educational purposes only.
A few things worth flagging on the weekly timeframe:
MACD is just turning positive
DMI is also turning positive, though ADX has yet to confirm a trend is underway
Price is currently trading just above the weekly cloud
Below, the 78.40 area (aligned with the 200-week MA) remains the key support/pivot from the 2025 range, with the 55.12/30 lows marking the base of that move.
Taken together, this leans toward fortune favouring the upside — but I'd want to see a confirmed weekly close above 95.03 before treating that as anything more than a lean.
Not trading advice, do your own research — for educational purposes only.
The STA is the oldest technical analysis organisation in the world and to celebrate that fact, we have a free downloadable book on technical analysis here -
technicalanalysts.com
technicalanalysts.com
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.
The STA is the oldest technical analysis organisation in the world and to celebrate that fact, we have a free downloadable book on technical analysis here -
technicalanalysts.com
technicalanalysts.com
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.