Price action is looking to make a move since its been in this range. News is coming out which should give price the push it needs to make said move. If price holds over this Resistance this can be a strong support which can see price go to 80.750 or 81.000. If price rejects this resistance it can fall beyond the range and possibly to the .618% on the Daily or .50% fib level on the Weekly. Remember to buy over resistance that is being used as support and sell at a rejection of the resistance.
Note
Price has touched the Daily .618% 3 times and rejected it heavily each time. Weekly .50% was touched once and also flew.
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.