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Technical Breakdown
Ascending Channel Formation:
The price has been moving within an ascending channel, indicating a bullish trend. The upper and lower boundaries of the channel have provided resistance and support, respectively.
Support/Resistance Level:
A key horizontal level around 2,430 has acted as both support and resistance. This level was tested multiple times, showing its significance in the price action.
Bear Flags:
Two bear flags are identified, one on the 15-minute chart and another on the 30-minute chart. Bear flags typically indicate continuation patterns in a downtrend, suggesting further bearish movement.
Higher High (HH) and Lower High (LH):
The chart shows a higher high (HH) followed by a lower high (LH), indicating a potential shift from a bullish to a bearish trend.
Price Target (TP):
The TP is marked at 2,348, suggesting a potential downside target based on the current technical setup.
Ascending Channel Formation:
The price has been moving within an ascending channel, indicating a bullish trend. The upper and lower boundaries of the channel have provided resistance and support, respectively.
Support/Resistance Level:
A key horizontal level around 2,430 has acted as both support and resistance. This level was tested multiple times, showing its significance in the price action.
Bear Flags:
Two bear flags are identified, one on the 15-minute chart and another on the 30-minute chart. Bear flags typically indicate continuation patterns in a downtrend, suggesting further bearish movement.
Higher High (HH) and Lower High (LH):
The chart shows a higher high (HH) followed by a lower high (LH), indicating a potential shift from a bullish to a bearish trend.
Price Target (TP):
The TP is marked at 2,348, suggesting a potential downside target based on the current technical setup.
This page is designed to:
Help you better understand your personal risk tolerance
Guide you through emotionally charged decisions
Improve your overall trading confidence and performance
Help you better understand your personal risk tolerance
Guide you through emotionally charged decisions
Improve your overall trading confidence and performance
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