Diesel Technical Analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Diesel is currently exhibiting a strong bullish momentum on the one-hour timeframe, characterized by a sharp impulse move away from the base at 1322.39. The price is presently testing the 1552.74 resistance level, which corresponds to the 38.2% Fibonacci retracement mark. A failure to break and hold above this level would likely trigger a healthy correction, as suggested by the manual zigzag projections on the chart. Furthermore, the price is significantly extended above the 100-period Simple Moving Average at 1377.584, which often precedes a period of consolidation or a retracement toward the mean to alleviate overbought conditions.



The projected path indicates a potential pullback toward the 1508.76 or 1464.77 levels, which align with the 50% and 61.8% Fibonacci zones, respectively. If these support levels hold, the broader trend suggests a secondary impulsive move targeting the 1695.12 peak. While the macro outlook remains bullish, the short-term risk favors a retracement to establish a higher low before reaching the ultimate upside target.

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