QUICK TAKE: Price is currently at 3097.53, showing a slight bounce from intraday lows, but the 1-hour trend remains bearish with price below key resistance levels, indicating potential for further downside in the next 4-12 hours.

ENTRY SETUP:

• Direction: SHORT (primary due to bearish trend, but LONG setup provided for opportunities)
• Entry Price: 3095.00 (specific level from recent 15m high of 3094.50)
• Confirmation Needed: Price rejection at 3095 with increasing volume and a bearish candlestick pattern (e.g., pin bar or engulfing) on the 15m timeframe.
• Confidence: Medium

RISK MANAGEMENT:

• Stop Loss: 3110.00 (above recent resistance from 15m data, high of 3109.59)
• Target 1: 3050.00 (conservative target, hours away, based on 1h low)
• Target 2: 3030.00 (optimistic target, 12-24h away, extended support)
• Risk/Reward: Approximately 1:2.5 (risk of 15 points, reward of 45 points)

KEY LEVELS:

• Immediate Support: 3070.42 (from latest 15m candle low)
• Immediate Resistance: 3094.50 (from latest 15m candle high)

INVALIDATION: This SHORT setup fails if price breaks above 3110.00 with volume confirmation on the 15m timeframe.

ADDITIONAL LONG SETUP:

• Direction: LONG (alternative for bounce play)
• Entry Price: 3070.00 (near immediate support)
• Confirmation Needed: Price holding above 3070 with bullish reversal pattern and volume spike.
• Stop Loss: 3050.00 (below key support)
• Target 1: 3095.00 (hours away)
• Target 2: 3110.00 (12-24h away)
• Confidence: Low due to bearish overarching trend.