The price dropped from its resistance line at 5320 and is now consolidating between 5266 and 5226. Today, we anticipate significant market volatility with the GDP results expected at 1.2%. The price will likely touch 5266 before dropping towards 5226.
If the price stabilizes below 5226, it will support a further decline towards 5192, entering a bearish territory. Conversely, breaking above 5266 will support a rise towards 5300 and 5320.
Pivot Line: 5266
Resistance Levels: 5285, 5305, 5325
Support Levels: 5226, 5193, 5160
Today’s expected trading range is between the support at 5192 and the resistance at 5266.
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