Structure is crystal clear:
1. PRICE REJECTED 3 TIMES from descending trendline – Mar (96$), May (88$), Sep (71$) – Strong supply zone
2. Trading in Channel & Now CHANNEL BREAK – Shifted to Channel 2 and broke it too
3. Clear Structure – Overall trend bearish, price trading below 200 EMA
4. Support Break – Broke 54.36 major support, now trading at 51.29
WHAT’S NEXT?
Bearish momentum continues. Next demand zones:
Support 1: 47.23$ – Strong demand, possible bounce
Support 2: 43.09$ – Final demand, make or break level
Invalidation: Daily close above 68-70$ will negate bearish view and confirm higher low near demand.
A higher low near demand would be constructive, but clearing resistance would give it greater structural significance.
Trade Plan: Sell on rise till 68$ holds. Buy only near 47$ demand with confirmation.
This is not financial advice, for educational purpose only.
