š$FTT
BEARISH TECHNICAL ANALYSIS ā SELL PRESSURE EMERGING NEAR MAJOR RESISTANCE
$FTT is showing early signs of bearish pressure after rejecting the upper resistance zone. The recent upward move has weakened as consecutive candles fail to break above the major ceiling, forming a potential lower-timeframe lower high structure. This indicates exhaustion in bullish momentum.
The chart also reflects a slowdown in buying strength near the top of the range, increasing the likelihood of a corrective move. If price continues to stay below the resistance area, sellers may push the market toward deeper support levels. Loss of intraday support confirms the shift toward bearish sentiment.
Targets (TP):
ā¢ TP1: 0.6800
ā¢ TP2: 0.6450
ā¢ TP3: 0.6100
Stop Loss (SL):
ā¢ Above the key resistance zone around 0.7500 or near the recent swing high.
Risk Management:
Trade with controlled position sizing, avoid overexposure, and ensure SL is placed before entering to maintain proper risk discipline.