A decisive break below 6197 would strengthen the bearish structure. But also watch for a retest that fails to reclaim the level, as that usually offers a higher-probability continuation toward the 6065 target.
EU 50- Analysis Update 6197 Major Support price level continues to hold price, signifying the Bulls are not ready to relinquish their power at that zone yet. Another daily bounces off the zone, while we wait to see if NY session will impact rally or drop for the index.
As price is forming another bottom at the support level on the daily, which is already set on the 4hrs, with the trend support confluence at the same zone, I'll expect a rally above 6283(red zone) for the Asset later this week.
