The price zone between 55,694 and 55,783 is acting as a strong resistance on the 1-hour chart. If the market moves down to sweep the liquidity around 55,551, it could potentially trigger a reversal. This liquidity sweep may give the momentum required for the price to test the resistance zone again.
However, if the resistance holds firm and rejection occurs, it could push the market further down toward the Monthly Support level around 52,441.
Disclaimer:
This analysis is for informational and educational purposes only and should not be considered as investment advice or a recommendation to buy or sell any financial instruments. Trading in the stock market involves risk. Please conduct your own research or consult with a qualified financial advisor before making any trading decisions.
However, if the resistance holds firm and rejection occurs, it could push the market further down toward the Monthly Support level around 52,441.
Disclaimer:
This analysis is for informational and educational purposes only and should not be considered as investment advice or a recommendation to buy or sell any financial instruments. Trading in the stock market involves risk. Please conduct your own research or consult with a qualified financial advisor before making any trading decisions.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.