The market has extended its bullish recovery and is now approaching a key premium supply zone between 4,380–4,400, where previous selling pressure emerged. This area may act as an important decision point, with price action likely determining whether the current momentum can continue or whether a pullback develops.
Today's macro backdrop adds another layer of importance. Investors are closely watching the U.S. July Non-Farm Payrolls (NFP) report, which could influence expectations for future Federal Reserve policy. Strong corporate earnings and continued enthusiasm around AI have supported broader market sentiment, while the labor market data remains a key catalyst for short-term volatility. �
Reuters +1
Key Levels
Premium Supply / Resistance: 4,380–4,400
Liquidity Target: 4,475
Higher-Timeframe Objective: 4,560
Support / Equilibrium: 4,300–4,315
Disclaimer: This analysis is for educational purposes only and reflects one possible interpretation of price action using Smart Money Concepts (SMC). It is not financial advice or a prediction of future market performance. Always wait for confirmation and manage risk appropriately.