Bullish Divergence Signals Recovery in Sight

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The weekly Heikin Ashi support/resistance (S/R) levels, represented by red bars with no wick, align perfectly with Fibonacci retracement levels from the latest high. This strong convergence of technical indicators suggests that the price is unlikely to drop lower from current levels.

Additionally, the presence of bullish divergence, which previously triggered an upward rally, further supports a potential recovery.

These signs indicate that a new bullish momentum may be forming, setting up for another move upwards.

Conclusion :

With Heikin Ashi levels aligning with Fibonacci retracements and bullish divergence in play, the market appears primed for recovery. Traders should watch closely for further confirmation of this trend.

Advice :

Consider entering positions as the recovery signals strengthen, but always manage risks with stop-loss strategies to safeguard against unexpected reversals.