To highlight the support and resistance breakouts on this chart:
1. Support Level:
- The support level is indicated by the purple line around the 3,700 mark. This is where the price tends to find a base and is likely to bounce back up after testing this level.
2. Resistance Level:
- The resistance level is indicated by the yellow line around the 4,100 mark. This is where the price tends to face selling pressure and may reverse or consolidate after reaching this level.
3. Potential Breakout Areas:
- Breakout Above Resistance: If the price moves above the resistance level at 4,100, this would signal a bullish breakout, indicating the potential for further upward movement.
- Breakout Below Support: If the price falls below the support level at 3,700, this would signal a bearish breakout, indicating the potential for further downward movement.
4. Current Scenario:
- The chart shows the price is currently around 3,792.21. The future movements could involve either testing the resistance level or falling to the support level before making significant moves.
These breakouts are critical for traders to identify potential entry and exit points in the market.
