21:05 UTC
Downtrend, sharp reversal underway · RSI 63 · price 4,267.12
Multi-month base, range breakout.
Four months of decline from the ~4,800 highs bottomed near 3,960 in early July, then base-built between 4,000–4,130 for several weeks. Price broke that range this week with a near-$200 two-session surge to 4,267 after soft US labor data (ADP 44K) dialed back Fed-hike bets, reclaiming EMA(50) in the process. RSI has lifted off its lows toward the mid-60s, not yet stretched at the D1 level.
What it said to watch
- Daily close above 4,300 opens the path toward the 4,393 june high
- US NFP Fri 12:30 UTC could materially shift this read
- Failure to hold 4,130 reopens the 4,000–4,130 base