đ$FIL Technical Outlook â Bearish Structure with Potential Dip-Buy Zone
đȘ§Trade Bias: Bearish short-term, cautiously bullish for accumulation
đMarket Structure:
FIL is still in a clear downtrend on the higher timeframe with lower highs and lower lows. The recent bounce from the 0.77â0.80 demand zone failed to break structure, and price is now consolidating below key resistance. Overall structure remains bearish until a strong higher high is formed above 0.98â1.00.
âïžKey Levels:
Support: 0.89 â 0.87 (minor), 0.80 (major demand), 0.75 (invalidates bullish idea)
Resistance: 0.95 â 0.98 (supply zone), 1.05 â 1.12 (major breakout level)
Volume Analysis:
Recent volume spikes on green candles suggest dip buyers stepping in, but overall volume trend is still weak compared to previous sell-off candles. This means accumulation is possible, but sellers still control the trend.
đOutlook:
As long as price stays below 0.98, the trend remains bearish. A clean breakout and retest above 1.00 can open the door for a mid-term bullish leg. Until then, smart strategy is to wait for deeper pullbacks or confirmed structure shift.