After successfully closing the bearish gap, the price has established a bullish channel, and it is currently trading within this channel. If you are considering a short position, it's advisable to exercise caution and wait for a clear break and retest of the channel's boundaries. Additionally, there is a notable demand zone located around the 780 level, which could provide support.
Conversely, on the upside, there is a strong resistance zone at 832, which is currently acting as a significant barrier. There's a possibility that the price may face a reversal from this zone.
Therefore, it's crucial to exercise patience and avoid taking a short position until we witness a confirmed break and retest of the channel boundaries, as this will provide more clarity on the price direction.
Conversely, on the upside, there is a strong resistance zone at 832, which is currently acting as a significant barrier. There's a possibility that the price may face a reversal from this zone.
Therefore, it's crucial to exercise patience and avoid taking a short position until we witness a confirmed break and retest of the channel boundaries, as this will provide more clarity on the price direction.
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**If these ideas are Helpful !
Please Like, Follow and Comment
Also share your thoughts in the comments section.
Thanks for your Support **
--Educational Purpose Only--
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" i am a IT-Trader "
Please Like, Follow and Comment
Also share your thoughts in the comments section.
Thanks for your Support **
--Educational Purpose Only--
--Not SEBI Registered--
" i am a IT-Trader "
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.