Critical Retest: Can the Uptrend HoldMarket Overview
The broader price structure clearly remains in an uptrend. However, a short-term bearish formation recently developed but was quickly invalidated as the market reversed into bullish momentum again on Friday.
Before the market closed, price retraced to retest the breakout level. If it can hold above this area and establish a higher structure, the uptrend is likely to continue until the trend shows signs of exhaustion. Conversely, if the retest fails and price breaks back below the ascending trendline, the market may enter a sideways consolidation phase, potentially forming a corrective pattern before the next decisive move.
