Post-Election Price Momentum: Bullish and Bearish Scenarios

6 Nov 2024

Technical Analysis

Following Trump’s success in the U.S. election, the price is poised to reach new highs after breaking its previous all-time high (ATH).

Bullish Scenario: If the price maintains stability above 5891, it is likely to target 5939 initially. A 1-hour or 4-hour candle close above 5939 would further reinforce the bullish momentum, with a potential upward move toward 6002.

Bearish Scenario: Sustained stability below 5891 may trigger a downward move, with an initial target of 5863. Should a 4-hour candle close below 5863, it could confirm entry into a new bearish phase.

Key Levels:
Pivot Point: 5900
Resistance Levels: 5939, 5980, 6002
Support Levels: 5891, 5863, 5803

Trend outlook: Uptrend

6 Nov 2024

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Live Update

Moving Well +200 pip✅

The price has pushed up to a new all-time high, reaching our target perfectly.

Now, a 4-hour or daily candle close above 5939 is required to continue the bullish trend toward 6002. If the price remains below 5939, it may drop to 5891 for a retest. As long as the price trades above 5891, the uptrend remains intact.

timeframe 4h, 1h
current price 5934