Market Summary

Overall direction is bullish on the 1h timeframe but price is facing resistance, with short-term bearish signals on the 15m chart. Watch the key resistance at 2074.13 for a breakout or rejection to determine next moves.

Market State

Current primary trend is bullish on 1h with price above EMAs and positive MACD, but momentum is fading on 15m as indicated by negative MACD histogram and CMF. Immediate price action is consolidating near resistance with mixed signals.

Key Levels

• Resistance: 2074.13, 2083.92
• Support: 2065.65, 2058.41

Scenarios

Bullish Scenario If price breaks above 2074.13 with increased volume and a candle close above this level, it could target 2083.92 and potentially higher towards 2090. This is supported by 1h bullish indicators like rising MACD, ADX above 20 with Plus DI > Minus DI, and positive CMF. Confirmation is needed from 15m CMF turning positive and RSI moving above 50.

Bearish Scenario If price rejects at 2074.13 and falls below 2065.65 with a candle close, it could drop to 2058.41 and further to 2040.25. This is supported by 15m bearish signals such as MACD histogram negative divergence, PSAR above price, and sell signals in the summary. Confirmation requires increasing sell volume on the breakdown and Stoch RSI remaining oversold.

Current Lean Slightly bearish in the short term due to 15m bearish confluence and price near resistance, but the 1h uptrend provides underlying support. Watch for a break below 2065.65 to confirm a bearish move or above 2074.13 for bullish continuation.

Trade Setup

• Direction: Neutral
• Long Entry: $2065.65 (optimal) / $2058.41 (alternative)
• Short Entry: $2074.13 (optimal) / $2083.92 (alternative)
• Stop Loss for Long: $2058.00
• Stop Loss for Short: $2084.50
• Targets for Long: T1: $2074.13 | T2: $2083.92
• Targets for Short: T1: $2065.65 | T2: $2058.41
• R/R for Long: Approximately 1:1.5 based on optimal entry
• R/R for Short: Approximately 1:1.5 based on optimal entry
• Confidence: Medium

Risks

• Invalidation: For long positions, invalidation if price breaks below 2058.00; for short positions, invalidation if price breaks above 2084.50.
• Warning: Conflicting signals between 1h and 15m timeframes increase risk; monitor volume spikes and candle closes at key levels for confirmation.