Key Observations:
Support and Resistance Levels:
Trendlines:
The chart shows a rising wedge/channel with price trading upwards near Resistance 1.
The current upward trend may face resistance at higher levels, particularly R2 and R3.
Harmonic Patterns:
Shark Pattern (Left side): Indicating a reversal in earlier phases.
ABCD Patterns & Cypher: Multiple harmonic patterns suggest significant retracement zones and reversals.
Volume Analysis:
Noticeable volume spikes during corrections, hinting at strong buyer interest during pullbacks.
Outlook:
Watch for a breakout above Resistance 1 for further upward momentum.
Breakdown below Support 1 could trigger a reversal toward Support 2.
Disclaimer:
This analysis is for informational purposes only and does not constitute financial advice. I am a long-term options seller, and my positions may differ from short-term trading perspectives. Always consider your risk appetite before making investment decisions.
Support and Resistance Levels:
- Support 1: 23,884.60
- Support 2: 23,264.60
- Resistance 1: 24,769.95
- R2: 25,193.80
- R3: 25,646.70
Trendlines:
The chart shows a rising wedge/channel with price trading upwards near Resistance 1.
The current upward trend may face resistance at higher levels, particularly R2 and R3.
Harmonic Patterns:
Shark Pattern (Left side): Indicating a reversal in earlier phases.
ABCD Patterns & Cypher: Multiple harmonic patterns suggest significant retracement zones and reversals.
Volume Analysis:
Noticeable volume spikes during corrections, hinting at strong buyer interest during pullbacks.
Outlook:
Watch for a breakout above Resistance 1 for further upward momentum.
Breakdown below Support 1 could trigger a reversal toward Support 2.
Disclaimer:
This analysis is for informational purposes only and does not constitute financial advice. I am a long-term options seller, and my positions may differ from short-term trading perspectives. Always consider your risk appetite before making investment 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.