Looking at the 1-hour chart, the Asian and European sessions saw a slow, oscillating rebound, with highs gradually moving lower and lows gradually moving higher, showing a converging pattern. The current rebound shows a tendency to stabilize above $4,000, with support around $3,995.
The expected resistance level is around 4045. The current low level has not yet stabilized and is not secure. Be wary of a sudden trend reversal. At present, the rebound is expected to continue slightly.
Regarding technical indicators, the Bollinger Bands and the 1-hour moving average system are intersecting, reflecting a relatively flat trend. The previous intersection point aligns with the $4,045 resistance zone mentioned earlier; there is a high probability that the price will reach this level during the rebound.
For short-term trading, the recommendation is to sell near the $4,045 resistance level, targeting the $4,000–$3,990 support zone. Wishing you all the best in your trading during this final trading session of the week.
The expected resistance level is around 4045. The current low level has not yet stabilized and is not secure. Be wary of a sudden trend reversal. At present, the rebound is expected to continue slightly.
Regarding technical indicators, the Bollinger Bands and the 1-hour moving average system are intersecting, reflecting a relatively flat trend. The previous intersection point aligns with the $4,045 resistance zone mentioned earlier; there is a high probability that the price will reach this level during the rebound.
For short-term trading, the recommendation is to sell near the $4,045 resistance level, targeting the $4,000–$3,990 support zone. Wishing you all the best in your trading during this final trading session of the week.
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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.
Related publications
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.