

The chart analysis reveals significant patterns that are crucial for understanding future price movements of the asset. A key focus rests on the bearish momentum emerging.
Additionally, understanding segment trends and volume changes further aids in assessing potential market directions aimed at predicting possible support and resistance levels.
The chart shows a mix of bullish and bearish patterns. Recently, there’s a bearish engulfing pattern, indicating potential further downside.
The trend has shifted from an upward momentum to sideways with a recent bearish tilt.
The recent drop to around 4590 suggests a test of support levels. Watch for a further breakout below this level.
The MACD line has crossed below the signal line, indicating a bearish crossover, which suggests a change in momentum to the downside.
The MACD histogram is in the negative, reinforcing bearish momentum currently.
There is no clear divergence between MACD and price action at this moment.
An increase in volume accompanies recent bearish candles, supporting the downward pressure.
The spike in volume can indicate potential institutional selling or profit-taking, emphasizing the bearish outlook.
Notable volume spikes should be watched, especially if they coincide with price movements through support or resistance levels.
Around 4590 is a critical support zone. A break below could reinforce bearish momentum.
Near recent highs around 4640. Any upward move should be watched for failure near this area.
Currently, the sentiment leans bearish. Consider short positions if the price closes below 4590 with strong volume confirmation.
Monitor for bullish reversal signals if the price holds above the support or reverts with a significant bullish candlestick pattern.
Set stop-loss limits near recent highs to manage potential upside risk due to volatility.



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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.