On the hourly timeframe, ASI is currently moving within a bearish channel. A false breakout occurred at the hourly support level, leading to a reversal back towards the upper boundary of the channel. The lower highs formed by ASI within the bearish channel indicate a short-term bearish momentum. The recent price reversal respected the upper boundary of the channel, reinforcing the bearish trend.
To anticipate a potential upward rally, it is essential to await confirmation of a bullish breakout. Until such confirmation occurs, the prevailing expectation is for the bearish momentum to persist within the established channel.
To anticipate a potential upward rally, it is essential to await confirmation of a bullish breakout. Until such confirmation occurs, the prevailing expectation is for the bearish momentum to persist within the established channel.
