📊 $FIL Short-Term Trend Reversal & Breakout Retest Setup
Market Structure:
FIL has formed a clear short-term trend reversal after bouncing from the 0.853 bottom. Price is now printing higher highs and higher lows, signaling growing bullish control. The breakout above the previous range confirms momentum shift from bearish to neutral-bullish.
Key Levels:
Support Zone: 0.920 – 0.900
Immediate Support: 0.940
Resistance Zone: 0.975 – 1.000
Major Resistance: 1.03 – 1.08
Volume Analysis:
Breakout candles were supported by strong volume expansion, showing real buyer participation. Recent volume remains healthy, suggesting accumulation on dips rather than distribution. A volume spike near resistance could confirm next leg up.
Outlook:
Trend remains bullish above 0.92. A clean retest and hold could open the path toward 1.00+ levels. However, short-term pullbacks are possible due to overbought conditions, so patience and confirmation are key. ⚡
Risk Note:
Volatility remains high. Always trade with strict risk management and defined stop levels. 🛡️
