This scenario involves a temporary pullback, which is normal after a sharp rally.
Scenario A: Filling the Gap: The price drops to fill the recent price gap created during the ascent.
Support Target: The Lower edge of the gap area. Once filled, the market may resume its upward trajectory.
Scenario B: Retest the 20 DEMA: The selling pressure is strong enough to push the price down to retest the 20 DEMA (56,730.55).
Key Level: If the 20 DEMA holds, it would be a healthy correction and a high-probability buying opportunity to resume the rally.
Risk: A decisive break below the 20 DEMA would signal a deeper correction, potentially towards the neckline of the Inverse H&S or the next significant support, which could be the 200 DEMA (54,287.85)—though this seems less likely in the immediate term without a strong catalyst.
The scenarios are probable if the levels are not sustained higher and any close above 58200 would negate this view.
Scenario A: Filling the Gap: The price drops to fill the recent price gap created during the ascent.
Support Target: The Lower edge of the gap area. Once filled, the market may resume its upward trajectory.
Scenario B: Retest the 20 DEMA: The selling pressure is strong enough to push the price down to retest the 20 DEMA (56,730.55).
Key Level: If the 20 DEMA holds, it would be a healthy correction and a high-probability buying opportunity to resume the rally.
Risk: A decisive break below the 20 DEMA would signal a deeper correction, potentially towards the neckline of the Inverse H&S or the next significant support, which could be the 200 DEMA (54,287.85)—though this seems less likely in the immediate term without a strong catalyst.
The scenarios are probable if the levels are not sustained higher and any close above 58200 would negate this view.
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