Pre-market Plan- Consolidating at highs,potential gap fill below(The following is for personal views only and does not constitute investment advice. Please exercise your own judgment before making any decisions.)
Currently on the 4-hour chart, price remains above the 200 SMA. RSI shows slight overbought signals, while the EMA suggests there is still upward momentum. After the Asian session, a short-term downtrend has formed.
Price is currently forming a downward flag, which could lead to further downside movement. After market open, price is likely to first move down to capture liquidity, with primary targets at 19062 and 19038.
If a reversal occurs, there is a high probability for the price to retrace upward to fill the NDOG at 19266. If bulls take control, ideally this should happen before 10:00. Afterward, there is a chance to break through to EHPDA 19505, but considering the overbought market condition and lack of strong catalysts, the probability of a significant move higher today is relatively low. If the price continues to rise, watch levels at 19891 and 20370. Look for reversal opportunities at these key levels.
To the downside, watch PDL 18493, and gaps at 18280 and 18000 as potential targets.
Due to Friday’s influence, the market may range between 19061–19505 today, with a potential move to fill the lower gaps next week. Price action after the open will help further confirm market sentiment.
If Bullish – Price should show a clear rebound after liquidity is taken.
If Bearish – If price breaks 19036 and fails to rebound effectively, expect significant downside.
