Looking at the chart, the current view suggests:
* If the market sustains the gap-up and breaks the immediate resistance, we can expect the pullback to continue with a moderately bullish tone.
Alternate view:
* If the gap-up doesn’t sustain and the market declines initially, it may reach the immediate support level.
* If a pullback happens from there, we can expect a range-bound market.
* Conversely, if the support breaks, the correction is likely to continue.
* If the market sustains the gap-up and breaks the immediate resistance, we can expect the pullback to continue with a moderately bullish tone.
Alternate view:
* If the gap-up doesn’t sustain and the market declines initially, it may reach the immediate support level.
* If a pullback happens from there, we can expect a range-bound market.
* Conversely, if the support breaks, the correction is likely to continue.
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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.
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.