Yesterday, price failed to break above the minor resistance at $3,341, which led to a sharp sell-off into the Support Zone. The 50MA has now crossed below the 200MA, reinforcing the short-term bearish momentum.
If the Support Zone fails to hold, we could see a move toward the HTF Support Zone, with downside targets at $3,241 and $3,208.
Any short-term recovery may face resistance at $3,300–$3,328. For a more meaningful shift in sentiment, bulls must reclaim $3,328 to open the path back toward higher levels.
📌 Key Levels to Watch
Resistance:
$3,300 ‣ $3,313 ‣ $3,328 ‣ $3,341
Support: $3,267 ‣ $3,241 ‣ $3,208
🔎 Fundamental Focus
Markets are positioning ahead of Wednesday’s FOMC Meeting Minutes, which could give insights into the Fed’s internal sentiment on rate cuts.
⚠️ Stay sharp — manage your risk.
If the Support Zone fails to hold, we could see a move toward the HTF Support Zone, with downside targets at $3,241 and $3,208.
Any short-term recovery may face resistance at $3,300–$3,328. For a more meaningful shift in sentiment, bulls must reclaim $3,328 to open the path back toward higher levels.
📌 Key Levels to Watch
Resistance:
$3,300 ‣ $3,313 ‣ $3,328 ‣ $3,341
Support: $3,267 ‣ $3,241 ‣ $3,208
🔎 Fundamental Focus
Markets are positioning ahead of Wednesday’s FOMC Meeting Minutes, which could give insights into the Fed’s internal sentiment on rate cuts.
⚠️ Stay sharp — manage your risk.
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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.
Related publications
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.