๐ Current Situation
Close: $1,043.96
Before the open: about $1,037.42, meaning slight downward pressure.
MA7 = 1,036.05
MA25 = 1,040.33
MA99 = 1,004.85
The price is currently above MA7 but below MA25, so short-term momentum is neutral and slightly bearish.
๐ด Resistances
1,040โ1,048 โ a very important zone; reclaiming it and holding above it gives an improvement signal.
Then:
~1,055
1,064.49 โ the top shown on the chart.
๐ข Supports
1,030โ1,032 nearby support.
1,022.60 โ the most important short-term support, i.e., the most recent low.
1,012โ1,015 โ next support if 1,022 is broken.
๐ Scenarios
If it breaks above 1,048 and holds above it:
Price may attempt to return to 1,055, then 1,064.
If it stays below 1,040:
Pressure remains, and it may retest 1,030, then 1,022.60.
If it breaks 1,022.60 clearly with strong trading volume:
The likelihood of the correction continuing increases toward the 1,012โ1,005 zone.
โ ๏ธ Most Important Note
There is a clear rebound from 1,022.60, but the trading volumes during the rebound look relatively weak, so I donโt consider the move up a strong confirmation yet. The 1,040โ1,048 level is the key right now
Close: $1,043.96
Before the open: about $1,037.42, meaning slight downward pressure.
MA7 = 1,036.05
MA25 = 1,040.33
MA99 = 1,004.85
The price is currently above MA7 but below MA25, so short-term momentum is neutral and slightly bearish.
๐ด Resistances
1,040โ1,048 โ a very important zone; reclaiming it and holding above it gives an improvement signal.
Then:
~1,055
1,064.49 โ the top shown on the chart.
๐ข Supports
1,030โ1,032 nearby support.
1,022.60 โ the most important short-term support, i.e., the most recent low.
1,012โ1,015 โ next support if 1,022 is broken.
๐ Scenarios
If it breaks above 1,048 and holds above it:
Price may attempt to return to 1,055, then 1,064.
If it stays below 1,040:
Pressure remains, and it may retest 1,030, then 1,022.60.
If it breaks 1,022.60 clearly with strong trading volume:
The likelihood of the correction continuing increases toward the 1,012โ1,005 zone.
โ ๏ธ Most Important Note
There is a clear rebound from 1,022.60, but the trading volumes during the rebound look relatively weak, so I donโt consider the move up a strong confirmation yet. The 1,040โ1,048 level is the key right now
