$NIL Bearish Harmonic Setup at a Key Reversal Zone 📉
NIL is forming a harmonic pattern on the 1H chart, with price now testing the upper Potential Reversal Zone (PRZ).
We’ve already seen a rejection from this area. If the price gets rejected again, the pattern could play out toward point C, with the lower support zone around $0.0700–$0.0725 as the potential downside area.
The key is how price reacts around the PRZ. A strong breakout above this zone could invalidate the bearish setup, so confirmation matters.
Watching the next move closely.
NIL is forming a harmonic pattern on the 1H chart, with price now testing the upper Potential Reversal Zone (PRZ).
We’ve already seen a rejection from this area. If the price gets rejected again, the pattern could play out toward point C, with the lower support zone around $0.0700–$0.0725 as the potential downside area.
The key is how price reacts around the PRZ. A strong breakout above this zone could invalidate the bearish setup, so confirmation matters.
Watching the next move closely.