Core Insights - The recent close above the 10-day average at $3,978 indicates improving short-term demand and suggests a potential move towards the 20-day average at $4,082 [1] - The 20-day average has been trading sideways, and a rally towards $4,082 may face selling pressure, which could lead to a bearish reversal [2] - A drop below the recent low of $3,974 would indicate weakness, targeting lower levels at $3,929 and $3,886 [3] Support and Resistance Levels - The 50% retracement level at $3,846 aligns with the 50-day average and the $3,886 zone, indicating a potential bounce area [4] - The 50-day average has not been tested as support since mid-August, and a pullback to this level is anticipated as a healthy development for the bullish trend [5] - Short-term strength supports a move towards the $4,082 level, but failure to hold above $3,974 could lead to a decline towards $3,929–$3,886, with the $3,846–$3,878 zone being a high-probability bounce area [6]

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