Textbook move last week - price broke out of the falling wedge, filled the gap between 5.99 - 7.03 (missed the top by just 9 cents), and kept momentum strong. I still expect upside to continue, though we might see some consolidation along the way.
Next resistance levels/targets I’m watching are 7.33 and 7.9–8.3 (previous S/R zone). For those eyeing a re-entry, a pullback into the 6.17–6.3 area looks solid - that’s where the daily 50 SMA and 4H 9 EMA line up.
Next resistance levels/targets I’m watching are 7.33 and 7.9–8.3 (previous S/R zone). For those eyeing a re-entry, a pullback into the 6.17–6.3 area looks solid - that’s where the daily 50 SMA and 4H 9 EMA line up.
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Enjoying this free analysis? You can find more free content on my X profile
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.