price has reacted strongly from the monthly resistance, failing to hold above the prior highs. after the rejection, market structure shows weekly liquidity taken, followed by a clear bearish reaction, suggesting distribution at higher levels.
there are no confirmed reversal signals on the higher timeframe, and price is currently trading below key resistance, keeping the bearish bias intact.
my expectation is for price to continue lower toward the monthly targets around 23,400 – 22,900, where liquidity rests. from that zone, a potential short-term bounce is possible, but overall structure favors continuation to the downside unless price reclaims the monthly level decisively.
bias: bearish
htf context: monthly resistance rejection
targets: 23.4k → 22.9k
there are no confirmed reversal signals on the higher timeframe, and price is currently trading below key resistance, keeping the bearish bias intact.
my expectation is for price to continue lower toward the monthly targets around 23,400 – 22,900, where liquidity rests. from that zone, a potential short-term bounce is possible, but overall structure favors continuation to the downside unless price reclaims the monthly level decisively.
bias: bearish
htf context: monthly resistance rejection
targets: 23.4k → 22.9k
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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.