4H Chart - Price Key Points:
- Downward continuation from approx $8481 slightly absorbed.
- Temp support at approx $8164 (fair value).
- Under 20MA, 50MA, 100MA, 200MA.
- RSI and MACD render positive divergences since 12th of May.
- Stochastic RSI stable.
- Current momentum indecisive.
- Models hint that current retrace might resolve to a bear trap.
Possible Scenarios:
Long: On a confirmed break above $8400 – Price Target $8604 | Probability: 30% | Signal Strength: 2/5
Neutral: Price Range $8153 - $8400
Short: On a confirmed break below $8153 – Price Target $7923 | Probability: 34% | Signal Strength: 3/5
Our Stance: Expecting a minor retest of yesterdays lows.