COS entering into consolidation
As seen, the COS has just broken the weekly resistance on the 4th test. Now that resistance has become support, but at the same time
there is rejection from next weekly level. Trend line is also acting as a support, but COS has to break 112 resistance as it being tested 1st time after two months. last time it was tested in 26 may 2020, and before that it was tested in march 2019. So we can assume that 112 level is the strong weekly resistance, otherwise it would be a downtrend.
there is rejection from next weekly level. Trend line is also acting as a support, but COS has to break 112 resistance as it being tested 1st time after two months. last time it was tested in 26 may 2020, and before that it was tested in march 2019. So we can assume that 112 level is the strong weekly resistance, otherwise it would be a downtrend.
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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.