Depth analysis and weekly trends as 26 August 2026
Important level to watch - 4604 (4-hour chart) 38% Fibonacci Retracement
Potential Upside Bias: While 4-hourly closes in price are seen above support at 4604 (38% retracement), the risks are for further upside to retest resistance at 4697 (August 24th high). Closing breaks above 4697 could lead to moves toward 4719 (May 14th high), even 4774 (May 12th high).
Potential Downside Bias: 4-hourly closes below 4604 could open potential for further declines to test the next support at 4576 (50% mid-point), then 4546 (62% retracement).
Current Outlook: Upside potential while prices remain above 4604.
This analysis reflects my personal observations and is provided for educational and informational purposes only. It is not financial advice or a trading recommendation.
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Instrument Analysis is provided for educational and informational purposes only. It is not personal financial advice, a trading signal, or a recommendation to buy, sell or hold any financial product.