The weekly chart shows an overall bullish structure. Daily/4hr view upside potential if support holds. Short term traders watch for breakouts on 1hr time frame above supply zones and bearish gaps. Position traders can accumulate on dips toward strong weekly demand zones.
Weekly Timeframe – Price is currently trading between strong support at 8.412 and resistance at 14.047.
– 0.382 and 0.50 Fibonacci levels between 10.2-13 provide good support.
– Supply zones 1 and 2 between 23.9-38.3 may limit upside, while demand zones between 11.7-5.7 provide good entry opportunities.
– Bullish fair value gaps need to be filled for the next leg up.
Support and Resistance Levels Support Zone #1 8.412 Support Zone #2 4.617 Resistance Zone #1 14.047 Resistance Zone #2 27.533 Resistance Zone #3 35.450
Fibonacci Retracement Levels 0.382 13.067 0.50 11.640 0.618 10.213 0.786 8.185 0.882 7.021
Supply Zone Zone Number High Low Supply Zone #1 23.910 28.710 Supply Zone #2 31.900 38.310
Demand Zone Zone Number High Low Demand Zone #1 11.788 10.500 Demand Zone #2 10.288 9.661 Demand Zone #3 7.696 7.100 Demand Zone #4 6.470 5.719
Fair Value Gaps / Imbalances Gap Number High Low Bullish FVG / Imbalance Zone #1 12.118 11.788 Bullish FVG / Imbalance Zone #2 10.500 10.274 Bullish FVG / Imbalance Zone #3 9.661 7.696 Bullish FVG / Imbalance Zone #4 6.908 6.421 Bearish FVG / Imbalance Zone #1 23.910 19.540 Bearish FVG / Imbalance Zone #2 31.900 28.710
Daily Timeframe – Uptrend is intact as price holds above daily support at 13.34.
– Resistance seen at 16.6, break above confirms further strength.
Support and Resistance Levels Support Zone #1 13.340 Resistance Zone #1 16.600
4 Hour Timeframe – Support at 13.589 needs to hold for upward momentum to continue.
– Supply zones between 15.3-17.3 may bring temporary halt to gains if tested.
– Bearish fair value gaps between 15-16.5 act as overhead resistance.
Support and Resistance Levels Fibonacci Retracement Levels 0.382 14.292 0.50 14.941 0.618 15.577 0.786 16.499 0.882 17.022
Supply Zone Zone Number High Low Supply Zone #1 15.578 15.257 Supply Zone #2 15.806 16.063 Supply Zone #3 16.875 17.322
Fair Value Gaps / Imbalances Gap Number High Low Bearish FVG #1 15.257 14.989 Bearish FVG #2 15.806 15.578 Bearish FVG #3 16.875 16.518
1 Hour Timeframe – Choppy moves amid support at 13.589 and supply zones 15.4-16.1.
– Bearish fair value gaps between 15-15.7 need to be filled for positive bias.
Support and Resistance Levels Fibonacci Retracement Levels 0.382 13.667 0.50 14.120 0.618 14.564 0.786 15.215 0.882 15.583
Supply Zone Zone Number High Low Supply Zone #1 15.555 15.404 Supply Zone #2 15.748 16.063
Fair Value Gaps / Imbalances Gap Number High Low Bearish FVG #1 15.311 14.989 Bearish FVG #1 15.748 15.578