• Current Trend: The market is currently trading inside a large Horizontal Channel (Range-bound) between the major support level of 4,460.00 and resistance near 4,584.41.

  • Short-Term Momentum: Within this range, price is moving inside a Secondary Ascending Channel (Uptrend Channel). It has recently bounced off the bottom support of this ascending channel and is heading upwards.

  • Expected Direction: * Bullish Scenario (More Likely Short-Term): The price is expected to continue its upward momentum within the ascending channel towards the CH Resistance level (around 4,584.41).

    • Bearish Scenario: If the price breaks down below the ascending channel's bottom line and the 4,523.03 level, it may retest the main CH Support at 4,460.00.

    Summary: The short-term bias is neutral-to-bullish within the upper half of the channel, aiming for the resistance target near 4,580+, as long as the uptrend channel support holds.