Infineon (IFX) – Potential Reversal at Trendline Support
Price has sharply corrected from the local highs around 38.7–39.0 EUR, reaching the major ascending trendline support in the 35.5–36.0 EUR demand zone.
🔹 Key points:
Strong upward trendline (blue) acting as dynamic support.
Price has reached a green demand box with confluence from previous structure.
MACD is bearish but momentum is oversold.
RSI at ~25 indicates oversold conditions with potential for a bounce.
Projected path: Possible short-term consolidation or retest of the trendline, followed by a bullish continuation towards 38.9, 39.2, and 39.5 EUR Fibonacci levels.
Targets: Fibonacci extensions at 1.272 (38.92 EUR), 1.618 (39.21 EUR), and the psychological 40 EUR zone if bullish momentum continues.
🔻 Invalidation: Clear breakdown below 34.98 EUR support (0.236 retracement) with volume confirmation could invalidate this reversal setup.
Price has sharply corrected from the local highs around 38.7–39.0 EUR, reaching the major ascending trendline support in the 35.5–36.0 EUR demand zone.
🔹 Key points:
Strong upward trendline (blue) acting as dynamic support.
Price has reached a green demand box with confluence from previous structure.
MACD is bearish but momentum is oversold.
RSI at ~25 indicates oversold conditions with potential for a bounce.
Projected path: Possible short-term consolidation or retest of the trendline, followed by a bullish continuation towards 38.9, 39.2, and 39.5 EUR Fibonacci levels.
Targets: Fibonacci extensions at 1.272 (38.92 EUR), 1.618 (39.21 EUR), and the psychological 40 EUR zone if bullish momentum continues.
🔻 Invalidation: Clear breakdown below 34.98 EUR support (0.236 retracement) with volume confirmation could invalidate this reversal setup.
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.
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.