19/07/2026
1. Overall Market Structure (Bearish Trend)
Downtrend: The market has been consistently making lower highs and lower lows over a prolonged period, which confirms a well-established bearish trend.
Descending Trendline: There is a prominent downward-sloping black trendline drawn from the previous peaks. This line acts as a dynamic resistance level, meaning every time the price attempts to rally up to this line, it faces selling pressure and drops.
2. Key Area of Interest (The Red Box)
Horizontal Resistance Zone: The red rectangular block highlighted on the chart represents a major Supply Zone or historical support-turned-resistance area.
Confluence Area: Currently, the price is undergoing a short-term bullish retracement (moving upwards) and is heading directly toward the intersection where the descending trendline meets this horizontal red resistance zone. In trading, this intersection is called a zone of confluence, making it a very high-probability area for a market reaction.
3. Projected Price Action (The Red Arrow)
Bearish Rejection Setup: The red arrow pointing downwards indicates the analyst's primary expectation. The hypothesis is that once the price hits this heavy resistance zone (the confluence of the trendline and the red box), buyers will lose momentum, sellers will step in, and the price will get rejected.
Downside Target: Following the expected rejection, the chart projects a sharp decline toward a lower target (indicated by the arrow near what appears to be a
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