Market Structure: The price has broken above a key resistance level, which is now acting as support. This change in role indicates potential bullish momentum, with buyers likely to dominate if the level holds.
Forecast: A buy opportunity is expected as the price respects the new support level, confirming the breakout and signaling further upward movement.
Key Levels to Watch: Entry Zone: Near the support level after confirmation that the price is holding above it. Risk Management: Stop Loss: Placed below the support level to limit downside risk. Take Profit: Target the next resistance levels or Fibonacci extensions for potential upside movement.
Market Sentiment: The transition of resistance into support reflects strengthening buying interest, favoring upward continuation as long as the support holds.
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