Daily Analysis:
Price is holding above the ascending trendline and forming higher lows. Multiple rejections from the 68.00 region suggest strong demand. As long as we remain above the trendline, bulls stay in control.
4H Analysis:
Pullback after rejecting 71.00. Now sitting inside the 69.60–69.20 demand area. Bullish channel is still valid unless we break below 68.50.
1H Analysis:
Price broke the rising channel but is now hovering near key support. Bullish re-entry possible if lower timeframe aligns around 69.60.
Confirmation & Entry:
If we see bullish engulfing or pin bar at 69.60–69.20, this could signal a long setup back to 71.00. Invalidated on clean break below 68.50.
Price is holding above the ascending trendline and forming higher lows. Multiple rejections from the 68.00 region suggest strong demand. As long as we remain above the trendline, bulls stay in control.
4H Analysis:
Pullback after rejecting 71.00. Now sitting inside the 69.60–69.20 demand area. Bullish channel is still valid unless we break below 68.50.
1H Analysis:
Price broke the rising channel but is now hovering near key support. Bullish re-entry possible if lower timeframe aligns around 69.60.
Confirmation & Entry:
If we see bullish engulfing or pin bar at 69.60–69.20, this could signal a long setup back to 71.00. Invalidated on clean break below 68.50.
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.