The TOTAL market cap is currently at a critical juncture, testing the bottom of the range resistance level at $2.5 trillion. Recent price action indicates volatility and uncertainty, highlighting the importance of careful analysis and risk management. Key Insights:
Recent Rejection: Two weeks ago, the TOTAL faced rejection at the $2.7 trillion level, signaling strong selling pressure and a potential shift in market sentiment. Support and Reversal: After retracing to a low of $2.2 trillion last week, the TOTAL found support and initiated an upward movement, indicating resilience in the market. Current Test: With the TOTAL now testing the bottom of the range resistance at $2.5 trillion, caution is warranted as a rejection could lead to further downside movement. Support Levels: Significant support levels are observed between $2.2 trillion and $1.8 trillion, suggesting potential areas for the TOTAL to retest in case of a rejection.