M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
Although the h1 time frame may carry on the bearish momentum, as the price trades below the last resistance at 4699.765 on h1. Meanwhile the m15 time frame shifted its character towards the bearish side, as the price closes below the last support at 4643.638 on m15 time frame. As a result, price confirmed the fresh resistance at 4673.847 on m15. Moreover, if price looses 4554.447 on h1 time frame, price may confirm the fresh resistance at 4695.989 – 4706.898 on h1 time frame.
Resistance Zones
M15 Resistance Zone
4673.847 – 4678.666
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
4710.927 – 4723.959
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
4603.736 – 4600.981
Pending Demand Zone
Short Term Key Resistance Region
H1 Support Zone
4546.989 – 4529.960
Pending Demand Zone
Higher Time Frame Support Base
Session Strategy
Although the price may extend its bearish momentum on h1, as the price holds the key resistance zone at 4699.765 on h1. Therefore, a decisive close above 4699.765 on h1. As a result, price would validate the character shift towards the bullish side, while setting up the fresh support at 4610.974 – 4601.358 on h1. On the other hand, reclaiming the 4706.792 on m15, price would confirm change of character towards the bullish side. As a result, price would set up the fresh support at 4678.666 – 4673.847 on m15. Moreover, if price looses 4554.447 on h1. As a result, price may confirm the fresh resistance at 4695.989 – 4706.898 on h1 time frame.
Nyc Session Update
Although the price may continue its bearish structure on h1 time frame, as the sellers are defending the last resistance area 4699.765 on h1. Meanwhile the h1 and m15 time frame hasn’t established any fresh resistance. Therefore, the pending resistance zone would remain valid on h1 and m15 time frame. In addition, a close below 4616.864 on m15, would set up the fresh resistance at 4686.970 – 4694.997 on m15.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
4788.558 – 4793.111
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
4710.927 – 4723.959
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
4603.736 – 4600.981
Pending Demand Zone
Short Term Key Resistance Region
H1 Support Zone
4546.989 – 4529.960
Pending Demand Zone
Higher Time Frame Support Base
Session Strategy
Although the price may extend its bearish momentum on h1, as the price holds the key supply zone at 4699.765 on h1. In addition, a close above 4699.765 on h1. As a result, price may validate the character shift towards the upside, while forming the fresh demand at 4610.974 – 4601.358 on h1. On the other hand, a decisive close above 4706.792 on m15, price may confirm change of character towards the bullish side. As a result, price may set up the fresh demand at 4678.666 – 4673.847 on m15. Moreover, a break below 4554.447 on h1. As a result, price would confirm the fresh supply zone at 4695.989 – 4706.898 on h1 time frame.
Key Takeways
Trend: Bearish
Bias: Sell On Rise
Follow H1 Structure
Disclaimer
Although this analysis is for educational and informational purposes only. Therefore it does not constitute financial advice. However always manage your risk and trade responsibly.