We are very close to the price reaching our institutional order block in the supply zone, where we could expect a small liquidity rejection upon touching it.
According to my forecast, the maximum rejection would be at 549.71, no more! This is a historically significant zone where the price has shown important impulses and patterns. Additionally, the price is moving with a lot of volume and buying strength. We are very, very close to reaching new all-time highs, but the big question is:
Will it surpass the all-time highs this week?
In my opinion, it might, but we must be very cautious as it could be an institutional liquidity trap leading to a strong pullback. So, we need to stay alert to any movement it makes.
Thank you for supporting my analysis; so far, everything has been going according to the forecast.
Best regards.