The market is about to hit its trade line resistance for the 6th time. Will the market be able to break out of this trade line resistance this time? It looks confusing. As usual, the market is again pumping strongly from its trade line support with more volume.
Since the market has been trading within this range for a long time, a lot of liquidity has built up above the trade line resistance, which the market should hunt.
I expect the market to break out of its trade line resistance this time, and we might see the market move towards 73k. However, I believe the market will first face rejection from its trade line resistance, which is around the 67k zone, and will complete the lower order blocks before moving upwards.