✅ Current Market Status

• Last Price: 44,426.84
• Change: -2.65 (-0.01%)
• Timeframe: 1-Hour Chart
• Chart Tool: TradingView
• Indicators: Bollinger Bands (20 SMA), Support/Resistance Zones, Trendlines

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🔍 Key Technical Observations

1. Rising Wedge Formation:
   • A clear rising wedge pattern is forming, where price is squeezing between higher lows and a flat resistance zone (~44,787).
   • This pattern often suggests potential bearish breakdowns if support is breached.
2. Bollinger Bands (20 SMA):
   • Middle Band (20-SMA): ~44,165 — acting as dynamic support.
   • Upper Band: ~44,787 — recent resistance tested but not broken.
   • Lower Band: ~43,543 — next major support.
3. Support & Resistance Levels:
   • Immediate Resistance: 44,787
   • Immediate Support: 44,165 (20-SMA) → if broken, downside risk increases.
   • Major Supports: 43,543 and 42,800 zones (previous consolidation areas).
   • Major Resistance: 45,076 (marked horizontal resistance zone).
4. Candlestick Pattern:
   • Recent red candle signals indecision or weakness after testing the top of the wedge.
5. Volume:
   • Slightly declining volume, which often precedes a breakout or breakdown. Watch for volume spikes.

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🔮 Intraday Bias: Cautiously Bearish (Watch for Breakdown)

• If price breaks below the lower wedge line (~44,165) with volume, it may trigger:
  • Target 1: 43,800 (support zone)
  • Target 2: 43,543 (lower Bollinger Band)
• If price breaks above 44,787 with momentum:
  • Target: 45,076 (next major resistance)

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🧭 Strategic View

Time Frame	View	Key Levels	Bias
Intraday	Sideways/Downside Risk	S: 44,165 / 43,543 R: 44,787 / 45,076	Cautiously Bearish
Short-Term	Bullish (Higher Highs)	Trendline intact above 44,165	Bullish until trendline breaks
Medium-Term	Strong Uptrend	Above 42,800 = Healthy structure	Bullish

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⚠️ Risk Factors:

• Weak economic data or hawkish Fed comments may trigger a breakdown.
• Rising wedge breakdowns can be sharp—watch the 44,165 level closely.

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📢 Disclaimer:

This is a technical analysis based on publicly available chart data and does not constitute investment advice. Markets are volatile, and it is important to manage risk and consult a licensed financial advisor before making trading decisions.

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