For the past six weeks, the price has been unsuccessful in testing the resistance of the MACD indicator line on the weekly chart. However, the recent consolidation above the 5908 level and the price channel line continue to support the accumulating potential for a breakout toward the target range of 6343–6400.
The current setup on the daily chart confirms that the price has consolidated above both the key price level and the price channel line. The Marlin oscillator remains in negative territory but is holding its position.
Marlin is unlikely to join the anticipated upward movement before Monday. Therefore, the main developments are expected to unfold at the beginning of next week.
