Market Structure Insight: Pullback Consolidation and Key Support

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Price action has followed a well-defined structure recently, providing several opportunities for analysis and potential setups.

We initially saw a pullback after a period of sideways movement, followed by a strong bullish move that led to a new high. This was followed by a consolidation phase, where the market took a breather before continuing upward.

After the recent peak, the market corrected again and is currently forming another range-bound structure. The $3,275.603 level is acting as a key support zone, which has held up well and could serve as a potential launchpad for the next bullish leg.

There are two key scenarios I’m watching:

1. Bullish Breakout – A break above the consolidation could target resistance zones at $3,365.634, $3,403.643, and possibly even $3,450.867.


2. Range Continuation – If support holds but momentum remains weak, we might see continued sideways movement before any decisive move.

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