Structure
Bearish → Post-climax distribution
Location
Upper Zone → Near supply
Zones
- Supply Zone: 101.5 – 103.5
- Minor Supply: 98.0 – 99.0
- Pivot Zone: 94.0 – 95.5
- Demand Zone: 89.5 – 90.5
Behaviour
Price is testing the upper boundary of the range near supply.
Recent movement shows a push into supply without confirmed acceptance above the zone.
Context
The broader structure reflects post-climax distribution following a strong prior advance.
Current price action is within a defined range, with supply active near highs and demand established below.
Structural Interpretation
The market is positioned at a decision zone.
Reactions at supply will determine whether the range continues or transitions into expansion.
Invalidation
Above 103.5 – 105
Continuation
Continuation opens below 89.5
Closing Thought
Markets at extremes require confirmation, not anticipation.
Structure remains the guide — reaction defines the next move.
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