? 1. Key Recent Price Action & Levels:
3295.2 (Current VAL): Now acts as an immediate resistance. Price approaching this level from below signals a possible bullish scenario if crossed.
⚖️ 2. Understanding the Score Change (+2 → +6):
However, the updated order flow data and recent price movements have now revealed:
Volumes have increased notably in the bullish direction after initially being dominated by sellers, suggesting a stronger bullish reaction and buyer-driven momentum.
Due to these reasons, confidence in the bullish scenario improved, thus raising the prediction score from a neutral/mild bullish (+2) to a moderate bullish (+6).
The bullishness is currently moderate rather than strong (+8 or +10) because the immediate overhead resistance levels at 3295.2 (VAL) and 3308 (Session VWAP) remain significant hurdles.
? Scoring System Reference:
-8 to -4: Moderate Bearish (Clear bearish pressure, limited bullish reaction)
+2 to +4: Mild Bullish (Early signs of bullish pressure, limited conviction)
+10: Extremely Bullish (Strong, sustained buying momentum)
Traders currently short should consider taking partial profits around the key support level at 3280.9, given the clear bullish absorption. Bulls should carefully monitor the next price reaction at 3295.2 for further confirmation.
Trade carefully, respecting the key levels above.
This article was written by Itai Levitan at www.forexlive.com. Read More Details
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