📈 Trend and Structure
General: The uptrend (HH + HL) is still in effect.
The price is moving within an upward channel, but:
It recently made a lower high → the first signal of weakening.
Currently, we are closer to the middle of the channel, after a bounce from the bottom.
🔑 Key Levels
🟢 Resistance:
2415 – 2466 → a strong supply zone (rejection)
Breaking this out = trend continuation
🟢 Local:
2330 – 2350 → current fight (pivot)
🔴 Support:
2269 → a very important level (already defended)
2195
2117 → the last trendline
📊 Indicators
RSI
Bounce from ~40 → neutral
No overbought → room for an uptrend
MACD
It was bearish Momentum, but:
is starting to flatten → possible upward crossover
👉 meaning: downward momentum is weakening
🔍 Scenarios
🟢 BULLISH
Condition:
hold 2269
breakout 2350
Target:
2415 → 2466
breakout = even 2500+
👉 This is the main scenario for now.
🔴 BEARISH
Condition:
loss 2269
breakout at the bottom of the channel
Target:
2195
2117
👉 then the structure changes to bearish
⚠️ Key conclusions
The trend is not broken yet
But:
momentum is weakening
we are after a rejection from the top
👉 This looks like:
a correction in an uptrend, not reversal (yet)
General: The uptrend (HH + HL) is still in effect.
The price is moving within an upward channel, but:
It recently made a lower high → the first signal of weakening.
Currently, we are closer to the middle of the channel, after a bounce from the bottom.
🔑 Key Levels
🟢 Resistance:
2415 – 2466 → a strong supply zone (rejection)
Breaking this out = trend continuation
🟢 Local:
2330 – 2350 → current fight (pivot)
🔴 Support:
2269 → a very important level (already defended)
2195
2117 → the last trendline
📊 Indicators
RSI
Bounce from ~40 → neutral
No overbought → room for an uptrend
MACD
It was bearish Momentum, but:
is starting to flatten → possible upward crossover
👉 meaning: downward momentum is weakening
🔍 Scenarios
🟢 BULLISH
Condition:
hold 2269
breakout 2350
Target:
2415 → 2466
breakout = even 2500+
👉 This is the main scenario for now.
🔴 BEARISH
Condition:
loss 2269
breakout at the bottom of the channel
Target:
2195
2117
👉 then the structure changes to bearish
⚠️ Key conclusions
The trend is not broken yet
But:
momentum is weakening
we are after a rejection from the top
👉 This looks like:
a correction in an uptrend, not reversal (yet)
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.
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.