Support and Resistance Levels:

Support: The recent lowest point is 125.52, which acts as a key support level.

Resistance: The previous peak before the drop was around 135-142, making this a resistance zone.

Can You Take a Long Position?

Bullish Signs: The price bounced from 125.52, indicating potential support.

Bearish Signs: The overall trend is downward, and the price is still below key resistance levels.

Indicators: On-Balance Volume (OBV) is negative, suggesting weak buying pressure.

Conclusion:

A long position can be considered if the price holds above 126-127 and shows strength.

Safer Entry: Wait for confirmation with higher lows or a break above 135 with volume.

Risk: If 125.52 breaks, the price may drop further.

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