Market Structure Overview
Price has printed a strong impulsive move to the upside, followed by a consolidation just below a key resistance zone. The structure suggests bullish continuation, provided key levels hold.
š Key Levels
Resistance: 4,820.98
Short-term Support: 4,770.84
Demand Zone: 4,710.55
Target: 4,880.63
š§ Price Action Insight
After the sharp bullish rally, price is forming a bullish continuation structure:
A higher low is developing near the short-term support.
The rounded pullback into demand indicates seller exhaustion.
Repeated tests of resistance suggest liquidity building above highs.
This type of structure often leads to a breakout move once resistance is cleared.
š Bullish Scenario
Holding above 4,770 support keeps the structure intact.
A clean break and hold above 4,820 resistance confirms continuation.
Upside target sits at 4,880, where liquidity is likely resting.
ā ļø Bearish Invalidation
A breakdown below 4,770 weakens the bullish bias.
Loss of 4,710 demand would invalidate the setup and could trigger deeper downside.
š Trade Idea
Entry: On pullback hold above 4,770 or breakout above 4,820
Stop Loss: Below 4,710
Take Profit: 4,880
š” Summary
The market is showing signs of accumulation below resistance. If buyers maintain control, a breakout toward the 4,880 region is highly probable.