The price has tested the resistance line multiple times showing strong supply/resistance. Buyers are gradually pushing price higher (higher lows), but momentum is weakening near resistance.
This is a sign of consolidation under resistance pattern before breakout .Rising wedge typically breaks down signaling a potential drop, it confirms weakening momentum.
Area to Watch for Entry
103000-104000 (recent demand zone) for Bullish
After daily candle closes above 113000 instant bullish Entry.
This is a sign of consolidation under resistance pattern before breakout .Rising wedge typically breaks down signaling a potential drop, it confirms weakening momentum.
Area to Watch for Entry
103000-104000 (recent demand zone) for Bullish
After daily candle closes above 113000 instant bullish Entry.
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.
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.