119.5–121k Support Must Hold for 121; Bear Risk Present
I'm watching 119.5, 120k and 121k — these levels must hold for a move up to 121.
There is a visible weakness: bearish pressure could derail the rally if support fails, so I remain cautious.
Analysis
The price needs to respect the 119.5–121k band to validate an upside continuation to 121; a breakdown would likely increase bearish momentum and invalidate the short-term bullish view.
Recommendation
Watch these support levels closely and avoid initiating sizey longs until a clear hold or bounce is confirmed; consider small, conditional entries on confirmed support.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.