Price has been coiling inside a tightening triangle: higher lows into a descending supply line. We’re basically at the decision point.
What I’m watching:
* Breakout trigger: 26.35 (4H close above + hold/retest)
* Overhead supply right above (purple zones around the upper 26s/27s) = where breakouts often stall first
* If it clears and accepts above that supply, upside opens to the measured move target around 32.50
Invalidation / risk:
* Rejection from the supply + losing the rising triangle support puts it back in chop and opens downside toward the mid/low 24s (and potentially lower)
Simple plan: let price prove it with a close above 26.35, then trade the retest. If it fails, don’t force it. Not financial advice.
What I’m watching:
* Breakout trigger: 26.35 (4H close above + hold/retest)
* Overhead supply right above (purple zones around the upper 26s/27s) = where breakouts often stall first
* If it clears and accepts above that supply, upside opens to the measured move target around 32.50
Invalidation / risk:
* Rejection from the supply + losing the rising triangle support puts it back in chop and opens downside toward the mid/low 24s (and potentially lower)
Simple plan: let price prove it with a close above 26.35, then trade the retest. If it fails, don’t force it. Not financial advice.
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.
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.