chart analysis @lunyoner
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1. Overview
The product analyzed on the chart is most likely an index, pair, or an asset like Brent Oil (since the price range is 94,000 – 110,000). Fibonacci retracements and a liquidity block (OB - order block) are shown on the chart. The price was rejected from this resistance area and is now attempting to test it again.
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2. Target and Price Levels
• Current price: 103,006
• Fibonacci resistance area:
• 0.62 → 103,883
• 0.705 → 104,321
• 0.79 → 104,759
• Peak: 105,842
• Low: 100,688
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3. Support - Resistance
• Support:
• 100,688 (important low)
• 101,900 – 102,300 area (previous structure support area)
• Resistance:
• 104,300 – 104,800 (OB + Fibo resistance block)
• 105,842 (new peak potential)
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4. Formation and Reversal
• A strong sell came from the bearish OB zone.
• The price is currently pulling back and heading towards the OB zone again.
• If a close above 103,800 occurs, liquidity hunting or a breakout will come to this area.
• If the breakout is successful, movement will start towards 105,800 and above.
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5. Indicator and Momentum
• The indicator is not present on the chart, but according to the structure:
• RSI is likely neutral around 50 and in a recovery mode.
• Volume will be critical at this point: if volume increases during the OB test, the bullish trend will be confirmed.
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6. Trend Direction
• 4H trend: Horizontal-up
• 1D trend: The clear rising structure is maintained.
• 1W: Still in the consolidation band, direction determination will clarify with closes above 104,800.
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7. Road Map
1. Test area between 103,800 – 104,300.
2. If it breaks above:
• Target 1 → 104,800
• Target 2 → 105,800
3. If rejected:
• The pullback may reach the support levels of 102,000 – 101,400.
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8. Strategy and Recommendation
• Short: If there is a rejection in the OB zone, a scalp short can be attempted (SL: above 105,000).
• Long: A retest above 104,300 or a low-risk long around 103,000 can be attempted.
• Stop-loss: A daily close below 102,400 will invalidate the bullish scenario.
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Conclusion
This structure is a classic combination of Fibonacci + order block. A new peak can be tested with an upward breakout. However, the OB zone is very strong; if this is not broken, there is a high potential for a drop back to the 102,000s. Breakout and volume should be monitored carefully. There is a scalp opportunity in the short term and a trading opportunity in the medium term.
