ā¢ Resistance: 4,200 ā 4,233 (0.5 Fib) ā 4,302 (0.618 Fib) ā 4,382
ā¢ Support: 4,100 ā 4,031 (purple line) ā 3,942 (swing low, Fib 0)
Scenarios:
ā¢ Bullish: Holding above 4,100 and a daily close above 4,200 opens the way to 4,233, then 4,300. A break above 4,300 raises the odds of a return to the highs.
ā¢ Bearish: A daily close below 4,100 targets 4,031, and a break of that means a test of 3,942. Losing the swing low entirely could open the large gray zone toward 3,800.
My take: The short-term trend is down, with no confirmed reversal yet. It’s better to wait for a clear daily close (above 4,200 or below 4,100) rather than trading inside the range. Any trade should have a stop beyond the broken level.
NOT financial advice, and I’m not a financial advisor. The decision and the risk are yours.