See also
27.02.2025 06:59 AM
The attempt to update the lowest extremum of 272.32 and restore the downtrend has not yet been achieved by bullish players. Without clear results, no new prospects can be identified. In this part of the chart, the next bearish target is the weekly objective of breaking through the Ichimoku cloud, which ranges from 154.37 to 210.79. If the bears are unsuccessful, the bulls will continue to operate within the influence zone of the final level indicated by the monthly Ichimoku cross at 329.98.
On the daily timeframe, around the monthly boundary of 329.98, there are several daily resistance levels: 304.58, 324.96, 341.22, and 357.47. Any of these levels could contribute to the restoration of bearish positions, while new bullish opportunities will only arise after the daily Ichimoku dead cross is eliminated.
On lower timeframes, the upward correction has gradually led the market to test key reference points. Currently, the market is interacting with the central daily Pivot level at 294.08, and further correction could target the weekly long-term trend level of 307.02. A breakout here might shift the existing balance of power. Additionally, intraday resistance levels for bullish players are found at the classic Pivot levels of 303.90, 309.64, and 319.46. If the corrective rise comes to an end, there will likely be a strengthening of bearish sentiment, particularly if support at the classic Pivot levels of 288.34, 278.52, and 272.78 is broken down.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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