2026-06-12 07:50 UTC
Significant bearish candle breaking below prior support levels.
Evidence Large body with close well below vwap and high volume.
Price reached a low point with a long lower wick, indicating potential capitulation.
Evidence High volume and long lower wick suggest selling exhaustion.
Bullish candle indicating recovery from recent lows.
Evidence Close above vwap with strong bullish body.
Price failed to sustain above recent highs and retested lower levels.
Evidence Bearish close below vwap with increased volume.
Latest bullish candle suggests potential support at current levels.
Evidence Close above vwap with moderate volume.
Volume spike during breakdown indicates strong selling pressure.
Evidence Volume significantly above 60-day average.
High volume during capitulation low suggests potential selling climax.
Evidence Volume peak with long lower wick.
Maintain the long position as the bullish thesis remains valid despite recent bearish signals.
HOLD LONG
Maintain the long position as the bullish thesis remains valid despite recent bearish signals.
The current market conditions show mixed signals with recent bearish candles, but the price remains above the critical support zone and the stop loss level. The bullish recovery thesis is still valid as the support zone between 1505.0 and 1582.85 is holding, and there is potential for recovery.
- Bullish recovery candle on June 6th with strong volume indicates potential reversal.
- Strong rejection from lower levels on June 5th indicates buying interest.
- Price closed above VWAP on June 6th, suggesting bullish momentum.
Monitor the support zone between 1505.0 and 1582.85 for potential breakdown or recovery.