Price: around $4,077.2.
The price is moving inside an ascending channel, and it has just touched or slightly broken the upper resistance line.
A pullback from this resistance level is likely, as shown by the blue arrow on your chart.
The target (TAEGET) zone is highlighted between $4,020–$4,040, where price may correct before deciding next direction.
Major support lies around $4,006.41 (blue horizontal line).
📉 Possible Short-Term Scenario
Expect a pullback from the top of the channel toward the target zone (around 4,020).
If the correction deepens, price could test the 4,006 level, which aligns with previous horizontal support and Ichimoku cloud support.
A bullish rebound from 4,020–4,006 would confirm continuation of the uptrend.
However, a break below 4,006 would invalidate the short-term bullish structure and may trigger a deeper drop
The price is moving inside an ascending channel, and it has just touched or slightly broken the upper resistance line.
A pullback from this resistance level is likely, as shown by the blue arrow on your chart.
The target (TAEGET) zone is highlighted between $4,020–$4,040, where price may correct before deciding next direction.
Major support lies around $4,006.41 (blue horizontal line).
📉 Possible Short-Term Scenario
Expect a pullback from the top of the channel toward the target zone (around 4,020).
If the correction deepens, price could test the 4,006 level, which aligns with previous horizontal support and Ichimoku cloud support.
A bullish rebound from 4,020–4,006 would confirm continuation of the uptrend.
However, a break below 4,006 would invalidate the short-term bullish structure and may trigger a deeper drop
Trade closed: stop reached
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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.