$FIL has transitioned into a clear momentum expansion phase. Price advanced from the 1.22 base to a session high at 1.369, posting a 10.24% daily gain with a noticeable increase in participation (15.5M FIL traded), confirming the move is structurally supported.

The rally followed a period of compression and range acceptance, which resolved to the upside with a strong impulsive candle. Subsequent candles show continuation rather than distribution, indicating buyers are maintaining control instead of immediately taking profit.

Key technical references

Support: 1.30 – 1.31, the first demand zone formed after the breakout

Current price: 1.367, trading near the high with strength

Resistance: 1.37 – 1.38, the immediate supply area

As long as price holds above the 1.30 region, the structure remains bullish with potential for further extension. A failure to hold that level would likely shift the market into short-term consolidation rather than trend reversal. The market is currently testing acceptance at highs, which makes the next candles critical for continuation confirmation.

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