The chart is developing an Alternate Bat-type harmonic structure, with the projected D point around 4,050–4,100 forming the Potential Reversal Zone (PRZ).
- AB: 0.585 retracement
- BC: 0.539 retracement of XA
- CD: ~1.948 extension of BC
- AD: ~0.884 — closely aligned with the harmonic structure
- Price is currently consolidating just above the PRZ.
- RSI: 41.79 — bearish momentum has weakened, but RSI is not yet in an oversold condition.
Bias: The 4H structure suggests a potential bullish reversal from the PRZ, but confirmation through price action/rejection is important before considering the reversal valid.
Key area: 4,050–4,100 PRZ.