Reversal Area: The highlighted gray box around 4,561 – 4,582 is a critical support zone. If this zone fails to hold on a daily close, it may open the path for a deeper move toward 4,500 – 4,515. 30-minute timeframe, with price currently testing a "Reversal Area" near 4,560.
Bearish Price has been making a series of lower highs and lower lows after failing to sustain above the 4,646 resistance.
Pennant Pattern: The gray shaded converging trendlines represent a bearish pennant—a continuation pattern indicating that after a sharp drop (the "pole"), sellers are consolidating before potentially pushing price lower.
Bearish Price has been making a series of lower highs and lower lows after failing to sustain above the 4,646 resistance.
Pennant Pattern: The gray shaded converging trendlines represent a bearish pennant—a continuation pattern indicating that after a sharp drop (the "pole"), sellers are consolidating before potentially pushing price lower.
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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.