The daily and weekly structure still points to a strong repricing over the last two weeks, from the 37-42 range, but today’s close shows that the recent upside impulse could not be sustained. The most important signal is in the order book: 246k shares offered at 40.76 TL versus 74k shares bid at 40.74 TL, creating a clear near-term supply overhang. Intraday action confirms this, as price reached 41.80 before fading sharply into the close, with selling accelerating late in the session. Volume remained elevated, yet the final decline indicates that buyers failed to maintain control at higher levels and momentum weakened. The news flow is mixed, but it was not the main driver of today’s move; the dominant factor was concentrated supply above spot. The six-month and weekly trend backdrop remains constructive, but the 40.76-41.00 zone is acting like a resistance pocket rather than a clean continuation area. The key anomaly is the clash between a strong higher-timeframe trend and immediate sell-side pressure, producing a distribution-like session.