Analysis: Weekly Opening Price: The price action has struggled to hold above the weekly open level (2,660.81), showing signs of weakness after a strong rally. This level now acts as a key resistance for buyers to reclaim. Daily Opening Price: The daily open at 2,649.01 is serving as a pivot point for today's session. A sustained move below this level indicates potential bearish continuation.
Trade Plan:
Entry Zone: Positioned near the daily open price rejection. Stop-Loss: Placed above the key resistance area (blue zone). Target: Aiming for the key support level at 2,580.00, aligning with previous significant structure. Key Levels: Resistance: Weekly Open: 2,660.81 Next resistance: 2,666.12 Support: 2,622.89 (prior key daily level) Final Target: 2,580.00 Notes: If buyers fail to reclaim the weekly open, sellers could dominate with a target toward the 2,580 zone. A clear break above the weekly open invalidates the setup.
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