Market Overview for HEMI/Turkish Lira (HEMITRY)

Summary
• Price drifted between 1.32 and 1.36 TRY, with a minor bearish bias in the 24-hour range.
• Volatility was uneven, with multiple consolidation periods and occasional upward breaks.
• Volume was concentrated in price clusters near 1.34 and 1.35 TRY, with divergent volume in the final hours.

HEMI/Turkish Lira (HEMITRY) opened at 1.34 TRY at 12:00 ET–1 and reached a high of 1.36 TRY and a low of 1.32 TRY before closing at 1.34 TRY by 12:00 ET. The 24-hour volume was approximately 8,861,723.1 units, with a total notional turnover of around 11,892,139.7 TRY.

Structure & Formations

The 24-hour candlestick pattern shows a fairly tight range with a slight bearish bias. There are several 15-minute consolidation periods between 1.34 and 1.35 TRY. A small bearish engulfing pattern appeared at 20:45 ET, and a key support level formed near 1.32 TRY after multiple tests. A potential resistance zone appears at 1.35 TRY, with some price hesitation observed in the 20:00–21:00 ET window.

Moving Averages

On the 15-minute chart, the price spent most of the session hovering around the 20-period moving average. The 50-period moving average acted as a minor resistance zone in the upper end of the range. On the daily chart, the 50-period and 200-period moving averages are not visible due to limited data, but the 100-period MA appears to offer resistance slightly above 1.34 TRY.

MACD & RSI

MACD remained in a low momentum range, suggesting a neutral-to-bearish market sentiment. RSI oscillated between 30 and 50, with no clear overbought or oversold signals. This indicates a relatively balanced market with no strong directional bias in the short term.

Bollinger Bands

Volatility was moderate, with the price staying within the Bollinger Bands for most of the session. A narrow band contraction was observed in the 04:00–05:00 ET window, followed by a moderate expansion. The price spent much of the session in the lower third of the bands, suggesting a potential for a retest of the 1.33–1.34 TRY range.

Volume & Turnover

Volume was unevenly distributed, with notable spikes at 06:30–07:00 ET and 10:45–11:00 ET. These periods coincided with minor price breaks and retracements. A divergence between volume and price was observed in the last two hours of the session, where volume dropped significantly despite a marginal price increase. This could hint at fading bullish momentum.

Fibonacci Retracements

Applying Fibonacci retracements to the 1.32–1.36 TRY swing, the 38.2% and 61.8% levels correspond to 1.338 and 1.331 TRY respectively. Price tested both levels multiple times but failed to break decisively through either, indicating a strong internal balance in the market.

Backtest Hypothesis

The absence of Dark Cloud Cover patterns in the provided data suggests either a data gap or a lack of the specific technical indicator in the dataset. A manual backtest could be conducted by identifying potential tops using raw OHLC data, particularly in the 21:00–22:00 ET window when the price attempted to break above 1.35 TRY. A more robust dataset or a standardized ticker symbol would improve the accuracy of future pattern-based backtests.