The broader market structure continues to maintain its upward trajectory, despite the recent corrective leg. Price responded decisively from a key demand area and has now broken above the multi-touch descending trendline that defined the pullback phase. This type of structural break is often interpreted as an early sign that bearish momentum is fading.
Several technical elements stand out:
• The long-term uptrend remains intact, supported by higher swing lows
• A sharp rejection from the recent low suggests renewed participation from buyers
• The descending trendline has been cleanly reclaimed, indicating a potential shift in market character
• A wide, untested range overhead remains a notable area of interest should momentum continue to build
This analysis highlights the evolving structure and the levels currently shaping market behavior. This is not a trade signal, but rather an observation of the technical conditions I’m monitoring.
Several technical elements stand out:
• The long-term uptrend remains intact, supported by higher swing lows
• A sharp rejection from the recent low suggests renewed participation from buyers
• The descending trendline has been cleanly reclaimed, indicating a potential shift in market character
• A wide, untested range overhead remains a notable area of interest should momentum continue to build
This analysis highlights the evolving structure and the levels currently shaping market behavior. This is not a trade signal, but rather an observation of the technical conditions I’m monitoring.
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