My Analysis

1. Market Structure:

The chart clearly highlights a Resistance Zone at 97,301 and a Support Zone at 90,796. The current price is fluctuating between these two key levels, indicating a range-bound market.

2. Resistance:

The 97,301 level acts as a strong resistance zone.

If the price fails to break this level, it presents an opportunity for a sell position.

In the case of a breakout, the price could move higher, but confirmation is essential.


3. Support:

The 90,796 level is a strong support zone where the price is likely to halt or reverse.

If this zone breaks, the price could drop further toward 89,000 or lower.


4. Potential Price Movement:

The zig-zag lines on the chart depict a classic retracement and consolidation pattern.

The current market structure suggests that the price might retest the resistance and potentially move downward.

A break below 94,077.6 could lead the price gradually toward 90,796.


5. Trading Strategy:

Sell at Resistance:

If the price tests and rejects the resistance level, a sell entry can be taken.

Place the stop-loss slightly above the resistance.


Buy at Support:

If the price reaches the support level and shows strong reversal signals, consider a buy entry.

Place the stop-loss slightly below the support.



6. Risk Management:

Do not risk more than 1-2% of your capital on a single trade.

Wait for breakouts and confirmatory signals before entering a trade.


This professional approach ensures better decision-making and minimizes unnecessary risks.