Price got rejected by the ascending channel’s lower band and pushed to the upside.
Now it is facing a supply level and also approaching to the resistance level at 152, CCI is in the overbought area.
Here are the two different scenarios:
Bullish Scenario: IF price breaks the resistance level at 152 to the upside and candle closed above this level, we can expect more rise to the channel’s upper band around 154
Bearish Scenario: IF price gets rejected by the supply level and a confirmation bearish candle closed below this level, we can expect a fall to the channel’s lower band and even a downside breakout on it.
Now it is facing a supply level and also approaching to the resistance level at 152, CCI is in the overbought area.
Here are the two different scenarios:
Bullish Scenario: IF price breaks the resistance level at 152 to the upside and candle closed above this level, we can expect more rise to the channel’s upper band around 154
Bearish Scenario: IF price gets rejected by the supply level and a confirmation bearish candle closed below this level, we can expect a fall to the channel’s lower band and even a downside breakout on it.
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