The market made a strong move up, then formed a lower high, and now is pulling back → short-term bearish correction inside a bigger bullish trend.
🔑 Key Zones Explained
1. Resistance (Upside Targets)
- 4708 – 4730 zone
- Previous rejection area (today’s high)
- If price breaks above → bullish continuation likely
2. Current Price Area (~4701)
- Price is sitting near mid-level support (0.5 Fibonacci + moving average)
- This is a decision zone → either bounce or break.
📈 Possible Scenarios
🟢 Bullish Case:
- Price holds above 4692 demand zone
- Bounce → targets 4708 → 4730
🔴 Bearish Case:
- Break below 4692
- Price likely drops to 4671
🧠 Simple Summary:
Market is pulling back into a demand zone.
- Hold = Buy opportunity
- Break = Further downside
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