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Overall, the short-term trend is still bullish, with prices oscillating within the trend line range and maintaining a “low, high, high” pattern. However, after the current high of 4800, the price continues to consolidate and adjust due to the impact of liquidity.
The multiple time frame EMAs (daily, two-hourly, one-hour) still show the continuation of the bullish structure as the 34 EMA remains above the 89 EMA. However, on the time frame (every four hours), the 34 EMA is still below the 89 EMA, indicating a mismatch in the time frames that determine the trend.
This area (4785-4800) is currently a key resistance area; a break above this area will cause the price to move back to higher resistance levels. This area (4571 – 4594) is currently a key support area; a break above this area would break the current bullish pattern on the Dow Jones (four hours), which could lead to further downward corrections.
– ✅ Display:
1. Sales scenario:
– Price breaks out of the support area (4571 – 4594), which also represents a bullish/bearish trend pattern (H4).
– Price breaks out of the uptrend line and breaks out of the higher bottom pattern.
– Candlestick (H4) confirms a close below the 34 EMA again.
==> Price may reverse and break below the support levels (4481 – 4488).
==> When price confirms a breakout of the support area (4481 – 4488), downward momentum may extend strongly to the nearest support area (4352 – 4362). If the price is rejected at the support area (4481-4488), a rebound is likely in the short term.
2. Purchase scenario:
This candle confirms the breakout of the resistance area (4785 – 4800).
– Confirmation of breakout of the downtrend line and simultaneous breakout of the lower top structure.
=> The bullish structure will be confirmed and extended to higher resistance.
❗Note: The market has been closed for 3 days. A series of economic data from the United States, plus news about the conflict between the United States and Iran, have greatly affected oil prices and gold prices. The market will reopen tomorrow. Please pay close attention to the market structure. To ensure the safety of transactions, please wait for the market to stabilize after the market opens before trading!
