The current structure suggests that sellers have slowed after the recent decline, while price is testing an important support area highlighted on the chart. This region may attract buying interest if the market continues to respect the higher-low structure.

Rather than chasing price, waiting for confirmation around support could provide a clearer technical setup. A break above nearby resistance would strengthen the bullish outlook.

Market Structure

Trend: Short-term recovery potential
Key Demand Area: Current highlighted zone
Confirmation Level: Above recent swing high

Potential Price Objectives

First Objective: 57.80
Second Objective: 58.60
Third Objective: 59.30
Extended Objective: 59.50–59.70

If support fails to hold, the market may revisit lower demand before establishing a new direction.