The price is moving within a distinct horizontal compression in the short term. The 110K zone stands out as a strong supply area where high volume sells are concentrated. With each approach to this zone, the selling response increases, while market participants appear cautious about breaking through this level.
The 105,965 level is an important interim resistance in the short-term trend structure. Unless 4H closures occur above this level, upward momentum will remain limited.
The lower band of 103,800 – 104,600 previously acted as support, but recent price behavior indicates that this area is
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