The price is held under resistance

At the moment, on the 1D timeframe, the price is under the local resistance level and as long as it is kept under it, the probability of continuing the decline is high. The growth scenario can only be considered if the price is fixed above the resistance. Now, it is quite possible to expect a hike in the price to the 9200 zone and there you will need to monitor the reaction of buyers to enter the long.

Comment:

As I wrote, the price continued to decline and approached the trend and the level of 9200. Now the price needs to be kept above the uptrend for a safe rebound and subsequent growth. If the price fails to hold and it is fixed under the trend, it is likely to continue falling. But so far this has not happened, the priority is to correct the downward movement.

Comment:

Everything went according to the plan I described. There was a rebound from the trend line. Now on the 1D. timeframe, a bullish pin bar is formed on an increased volume, which speaks in favor of continuing growth. Therefore, it is highly likely that the price will overcome the resistance and continue to grow.

Trade closed: target reached