Bearish Momentum Below 2651, Bullish Reversal on Break Above
Technical Analysis:
The price is likely to consolidate between 2638 and 2651 today until a breakout occurs.
A continued move below 2651 could lead to a drop towards 2638, and a 1-hour candle close beneath 2638 would open the path to 2624. A break below 2624 would activate the next bearish zone, potentially driving the price down to 2587.
On the other hand, if the price stabilizes above 2651, it may attempt to test 2660, with the potential to reach 2680.
Key Levels:
Pivot Point: 2651
Resistance Levels: 2660, 2670, 2680
Support Levels: 2638, 2624, 2615
Trend:
Bearish by stabilizing under 2651
Bullish: Upon breaking 2651
The price is likely to consolidate between 2638 and 2651 today until a breakout occurs.
A continued move below 2651 could lead to a drop towards 2638, and a 1-hour candle close beneath 2638 would open the path to 2624. A break below 2624 would activate the next bearish zone, potentially driving the price down to 2587.
On the other hand, if the price stabilizes above 2651, it may attempt to test 2660, with the potential to reach 2680.
Key Levels:
Pivot Point: 2651
Resistance Levels: 2660, 2670, 2680
Support Levels: 2638, 2624, 2615
Trend:
Bearish by stabilizing under 2651
Bullish: Upon breaking 2651
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