AutoMarkets

AutoMarkets

Key Observations: 1. Moving Averages: • The chart has a red line (likely a longer-period moving average, such as the 200 EMA) and a blue line (likely a shorter-period moving average, such as the 50 EMA). • The price recently crossed above the shorter moving average, indicating a potential short-term bullish momentum. • The price is testing the longer moving...

AutoMarkets

Technical Analysis: Trend: • The market is still in an overall uptrend, given the ascending channel structure. • However, the recent break below the midline and rejection at the upper boundary suggest possible short-term bearish momentum. Key Levels: 1. Support: • 21,200–21,220: Current price level and a critical area to hold. A break below could lead to...

AutoMarkets

Current Market Structure: 1. Trend Analysis: • The price is still within a well-defined ascending channel. • The recent price action shows a pullback toward the channel’s midline after hitting resistance near the upper channel boundary. 2. Key Levels: • Resistance: • 21,400–21,500: Price is near this key zone, which aligns with previous swing highs. A break...

AutoMarkets

As we can see it is still within channel parameters. No sign of a breakout yet. Will continue to watch for more.