CMP: 124.9
On the higher timeframe, the structural low near 40 marked the end of the long distribution phase. Since then, price has been printing higher highs and higher lows — classic trend transition.
On the daily, the recent pullback into the 119–120 zone held cleanly. That area now acts as demand. The sharp bounce from that pocket signals accumulation, not relief.
Short-term averages are turning up.
Momentum is rebuilding above reclaimed support.
Supply near 130–136 is being tested again.
Trade Framework
Bias: Upside continuation
Key Support: 118 (structural invalidation on closing basis)
Primary Objective: 136
Above 136, the expansion leg opens toward 150+.
As long as 118 holds, dips are absorption — not weakness.
The structure favors higher prices.
Risk defined.
Trend aligned.
On the higher timeframe, the structural low near 40 marked the end of the long distribution phase. Since then, price has been printing higher highs and higher lows — classic trend transition.
On the daily, the recent pullback into the 119–120 zone held cleanly. That area now acts as demand. The sharp bounce from that pocket signals accumulation, not relief.
Short-term averages are turning up.
Momentum is rebuilding above reclaimed support.
Supply near 130–136 is being tested again.
Trade Framework
Bias: Upside continuation
Key Support: 118 (structural invalidation on closing basis)
Primary Objective: 136
Above 136, the expansion leg opens toward 150+.
As long as 118 holds, dips are absorption — not weakness.
The structure favors higher prices.
Risk defined.
Trend aligned.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.