MESM has already broken the neckline, and this keeps the broader structure bearish for me. The price is trading around the 7326 level, and I think the market may still experience downward pressure unless buyers can reclaim key levels.
On the 4-hour chart, I am watching the fair value gap within the green zone as a potential retracement area. The price may retest that area before deciding to continue lower.
The key downtrend revocation level for me is 7492. If we get a 4 hour close above yesterday’s high, I think the tone could shift from bearish to bullish.
On the downside, I view 7247 as the first major downside target, with 7200 as a broader downside target later this week if weakness continues.
On the 1-hour chart, the fair value gap/cluster zone begins around 7406, making that a key reaction level for today.
On the 15-month chart, I still see 7400 as the main recovery area and 7247 as the main downside target.
Key levels
7400 / 7406 = Reclamation zone / Gap reaction zone
7247 = Downside target/yesterday’s low
7492 = bearish reversal on the 4-hour frame
7200 = wider downside target
Green area = Fair value gap retest area
Plan for today
Respect the bearish structure after breaking the neckline
Pay attention to the bounce into the gap first
If the price recovers from 7400-7406, watch for a continuation in the green zone
If price remains weak, watch 7247 next
If the 4-hour candle closes above 7492, reevaluate the bearish bias
It is not financial advice. No confirmation, no trade. 
Maysam 2026
