The entire rally from the April 7 low may be a corrective wave.
Corrective structures often take complex shapes and can be deceptive.
Despite the chance of testing $420 if $367 breaks on a gap-up open, a weak start or lack of volume could send the price down to retest the ascending trendline.
If the trendline breaks, $295 becomes the key pullback level.
– Possible corrective structure
– Watch $367 resistance and $295 support
– Trendline test critical for short-term direction
Corrective structures often take complex shapes and can be deceptive.
Despite the chance of testing $420 if $367 breaks on a gap-up open, a weak start or lack of volume could send the price down to retest the ascending trendline.
If the trendline breaks, $295 becomes the key pullback level.
– Possible corrective structure
– Watch $367 resistance and $295 support
– Trendline test critical for short-term direction
Trade closed: target reached
💼 Professional market insights & charts:
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cakirinsights.com/
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.
💼 Professional market insights & charts:
cakirinsights.com/
cakirinsights.com/
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.