

The asset’s chart displays notable bearish trends, with a sequence of red candlesticks indicating strong selling pressure. Recent price patterns around the 101,700 level may act as a potential support area but remain tentative due to ongoing bearish momentum.
The MACD analysis also reveals a bearish sentiment, supported by converging lines that might suggest a weakening of the current downtrend.
The chart shows several red candlesticks with sizeable bodies, suggesting strong bearish pressure.
Recently, there is a small green candlestick following a series of red ones, potentially indicating a pause or a slight pullback in the downtrend.
The current trend appears to be bearish, as indicated by the series of lower highs and lower lows.
The MACD line is below the Signal line, indicating bearish momentum.
Both lines appear to be converging slightly, which may suggest weakening bearish momentum.
The histogram shows negative values, corroborating bearish sentiment, though the decreasing size of the bars hints at a possible slowdown in momentum.
There are spikes in volume during downward price moves, confirming selling pressure.
The most recent volume spike accompanying a small green candle might signal early buying interest or short covering.
Volume trends support the bearish price action, suggesting that the sell-off was driven by strong participation.
Around 101,700 appears to be a weak support level, but given the recent bearish pressure, it may not hold if retested.
Immediate resistance is near the 104,000 level, where previous consolidation occurred before further selling.
Continued monitoring of these levels is crucial for anticipating market movements.
Consider holding off on buying until there is a clearer reversal signal or confirmation of support holding.
Selling into rallies could be considered for short-term positions.
Watch for a bullish candlestick pattern, such as a hammer or bullish engulfing near current levels, with accompanying volume to suggest a stronger reversal.



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Secured By SSL. Copyright © Seekapa. All rights reserved. 2024
Company Information: This website (www.seekapa.com.com/) is operated by Bluepine Ltd, a Seychelles investment firm, authorised and regulated by the Financial Services Authority of Seychelles with license number SD183. Bluepine Ltd is located at Suite 205, 2nd Floor, Waterside Property Limited, Eden Island, Seychelles
Risk warning: Contracts for difference (‘CFDs’) is a complex financial product, with speculative character, the trading of which involves significant risks of loss of capital. Trading CFDs, which is a marginal product, may result in the loss of your entire balance. Remember that leverage in CFDs can work both to your advantage and disadvantage. CFDs traders do not own, or have any rights to, the underlying assets. Trading CFDs is not appropriate for all investors. Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. Before deciding to trade, you should carefully consider your investment objectives, level of experience and risk tolerance. You should not deposit more than you are prepared to lose. Please ensure you fully understand the risk associated with the product envisaged and seek independent advice, if necessary. Please read our Risk Disclosure document.
Regional Restrictions: Bluepine Ltd does not offer services within the European Economic Area as well as in certain other jurisdictions such as the USA, British Columbia, Canada and some other regions.
Bluepine Ltd does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of any financial product. Bluepine Ltd is not a financial adviser.