On the AMD 15-minute chart, the broader market structure has shifted from a recent downtrend, marked by a Lower High (LH) and Lower Low (LL) sequence, into a potential reversal phase. This transition was confirmed by a Change of Character (CHoCH) at 177.98, breaking above the prior LH. That move signals that sellers have lost some control, and buyers may now be positioning for a continuation upward if they can defend nearby support.
The nearest demand zone lies between 171.00–172.00, where buyers previously stepped in with strength, creating a sharp bounce. This makes it a strong short-term support area. Above, supply is positioned at 174.50–176.00, where price previously stalled and dropped, indicating active sellers. A more significant supply cap remains at 179.00–181.00, which caused a major rejection earlier in the month and stands as a strong resistance zone.
Within the marked region, price is hovering just above the 171s demand after failing to push through the mid-supply area. The current price action suggests a likely shallow pullback into the 171.50–172.00 demand to absorb liquidity before attempting another push toward the 176.00–178.00 range.
Trade bias: Bullish
Expected direction: Higher after a pullback into demand
Invalidation level: A close below 171.00 would weaken the bullish case and open the door for a deeper drop toward 168.00
Momentum condition: Slightly favors buyers, with higher lows forming despite supply pressure
Candle behavior: Short-bodied consolidation candles above demand, indicating absorption rather than aggressive selling