This current move exhibits stronger bullish conviction compared to earlier rallies, as shown by consecutive long-bodied green candles and reduced upper wicks, indicating follow-through rather than rejection.
The immediate resistance lies around 78750, a level that has repeatedly capped upward momentum throughout July.
A successful breakout and sustained close above this level would likely confirm the end of the consolidation phase and initiate a fresh leg up toward 79500–80000, a previous supply zone.
On the contrary, a rejection here could mean another pullback toward the 78200–78000 zone, keeping the range structure alive.
Given the rising sequence of higher lows, improving structure, and building momentum, the chart now leans toward a bullish breakout bias, with the 78750 zone acting as the trigger level for a potential rally continuation.
The immediate resistance lies around 78750, a level that has repeatedly capped upward momentum throughout July.
A successful breakout and sustained close above this level would likely confirm the end of the consolidation phase and initiate a fresh leg up toward 79500–80000, a previous supply zone.
On the contrary, a rejection here could mean another pullback toward the 78200–78000 zone, keeping the range structure alive.
Given the rising sequence of higher lows, improving structure, and building momentum, the chart now leans toward a bullish breakout bias, with the 78750 zone acting as the trigger level for a potential rally continuation.
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.