strong linear trend structure with price reaching key mid-term resistance, where a new base formation or extended consolidation may be expected.
If the current pullback remains contained within the 77–60 support zone (after one potential leg down), it could complete the corrective phase and set the stage for a higher low formation, opening room for the next upleg toward 155–200 mid-term resistance.
Alternatively, a breakdown below 60 would raise the odds for a transition into a diagonal structure, implying a deeper and longer pullback into the 55–45 area before any new attempt to resume the uptrend.
Chart:
If the current pullback remains contained within the 77–60 support zone (after one potential leg down), it could complete the corrective phase and set the stage for a higher low formation, opening room for the next upleg toward 155–200 mid-term resistance.
Alternatively, a breakdown below 60 would raise the odds for a transition into a diagonal structure, implying a deeper and longer pullback into the 55–45 area before any new attempt to resume the uptrend.
Chart:
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Disclaimer
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