📊 1️⃣ Market Structure
Medium-term trend: up
Higher lows
Higher highs
Price remains above the trend line (orange)
Last impulse:
👉 breakout above 84.5
👉 reaching below the 91–92 zone
Now we have a correction after the impulse.
📍 2️⃣ Key Levels
🔵 91.6–92.0
Resistance/Supply Zone
The market has been rejected here. 🔴 84.5
First strong support
🔴 80.5
Structural support (more important)
🔵 71.1
Large HTF support
📈 3️⃣ RSI (H4)
RSI has moved out of the overbought range
Currently ~55–60
No bearish divergence
This looks like a healthy correction in an uptrend.
📉 4️⃣ Stoch RSI
It has moved out of the oversold range and is reversing upwards. This often means:
👉 the end of a local correction
👉 an attempt to re-attack resistance
🔥 Scenarios
🟢 BULLISH SCENARIO (more likely)
If the price holds:
👉 84.5
Then we have:
a retest
continuation
an attack at 91.6
a potential breakout to 99.4
🔴 BEARISH SCENARIO
If we lose:
👉 84.5
and close H4 below
Then:
a move to 80.5
a possible test of the trendline
Medium-term trend: up
Higher lows
Higher highs
Price remains above the trend line (orange)
Last impulse:
👉 breakout above 84.5
👉 reaching below the 91–92 zone
Now we have a correction after the impulse.
📍 2️⃣ Key Levels
🔵 91.6–92.0
Resistance/Supply Zone
The market has been rejected here. 🔴 84.5
First strong support
🔴 80.5
Structural support (more important)
🔵 71.1
Large HTF support
📈 3️⃣ RSI (H4)
RSI has moved out of the overbought range
Currently ~55–60
No bearish divergence
This looks like a healthy correction in an uptrend.
📉 4️⃣ Stoch RSI
It has moved out of the oversold range and is reversing upwards. This often means:
👉 the end of a local correction
👉 an attempt to re-attack resistance
🔥 Scenarios
🟢 BULLISH SCENARIO (more likely)
If the price holds:
👉 84.5
Then we have:
a retest
continuation
an attack at 91.6
a potential breakout to 99.4
🔴 BEARISH SCENARIO
If we lose:
👉 84.5
and close H4 below
Then:
a move to 80.5
a possible test of the trendline
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.