Price shows continued downside pressure after rejection from the 5077 high. Momentum favors sellers as structure shifts lower.
🔻 Bearish Confluences
Lower highs & lower lows on intraday structure
Rejection from resistance / supply zone near prior breakdown area
Bearish momentum continuation (strong impulsive sell leg)
Price trading below short-term moving averages
📉 Fibonacci Measured Move Targets
Using the swing from 5077 → 4900 as the 100% move (177 points):
100% = 4900
The following levels act as potential continuation targets if 4900 breaks below with momentum.
127.2% = ~4852
161.8% = ~4791
Bias remains bearish below structure resistance.
🔻 Bearish Confluences
Lower highs & lower lows on intraday structure
Rejection from resistance / supply zone near prior breakdown area
Bearish momentum continuation (strong impulsive sell leg)
Price trading below short-term moving averages
📉 Fibonacci Measured Move Targets
Using the swing from 5077 → 4900 as the 100% move (177 points):
100% = 4900
The following levels act as potential continuation targets if 4900 breaks below with momentum.
127.2% = ~4852
161.8% = ~4791
Bias remains bearish below structure resistance.
Trade active
Trade closed: target reached
Target HIT 
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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.
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.