The chart reflects a sideways-to-recovery phase after a decline, with price forming a base near the highlighted demand zone. The repeated respect of this area suggests stability, while the current price action near the trendline shows compression.
A controlled move above the current range could lead to a gradual push higher. The structure favors a step-by-step movement, where small pullbacks are followed by upward continuation.
Important Zones:
Demand Area: 4655 – 4685
Current Range: 4695 – 4715
Upside Targets:
4740 – 4755
4780
4800 – 4820
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