TEM continues to show improving price structure after completing a double-bottom formation and reclaiming the MA50.
The recent breakout from the base remains intact, with buyers continuing to defend higher lows while price pushes back toward the key resistance zone near $58.
One encouraging development is the steady improvement in momentum following the breakout. Rather than a single sharp move, the recovery has developed through a series of higher lows, helping strengthen the overall structure.
The next area to watch is the resistance zone around $58. This level has acted as a decision area multiple times in recent months and could determine whether the recovery extends further.
If buyers can clear and hold above $58, the next upside target comes into focus near the MA200 around $66.
On the downside, maintaining support above the MA50 remains important. A loss of that level would weaken the current bullish structure and increase the risk of consolidation.
Do you see TEM building enough momentum to challenge the MA200, or does resistance still need more time to be absorbed?
Feel free to share your thoughts below.
The recent breakout from the base remains intact, with buyers continuing to defend higher lows while price pushes back toward the key resistance zone near $58.
One encouraging development is the steady improvement in momentum following the breakout. Rather than a single sharp move, the recovery has developed through a series of higher lows, helping strengthen the overall structure.
The next area to watch is the resistance zone around $58. This level has acted as a decision area multiple times in recent months and could determine whether the recovery extends further.
If buyers can clear and hold above $58, the next upside target comes into focus near the MA200 around $66.
On the downside, maintaining support above the MA50 remains important. A loss of that level would weaken the current bullish structure and increase the risk of consolidation.
Do you see TEM building enough momentum to challenge the MA200, or does resistance still need more time to be absorbed?
Feel free to share your thoughts below.
Trade active
Update:Buyers have now reclaimed the $58 resistance discussed in the original idea.
The recovery structure continues to improve, with price now approaching the MA200 around $63.
The next technical test is whether buyers can establish acceptance above the MA200. A successful reclaim would further strengthen the broader recovery structure.
For now, the breakout above $58 remains intact, and the higher-low sequence continues to develop.
Structure first. Predictions second.
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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.