Price Reaction To Support Levels
The price of FIL is currently within the $3.86 to $4.00 support range. This range acts as a crucial area to support the price and may prevent further declines. If the price stabilizes within this range, an upward movement towards higher levels could be expected.
Potential Scenarios:
Maintaining Support and Moving Upwards:
If the price holds within the $3.86 to $4.00 range and stabilizes, there is a possibility of rising towards the $4.20 and $4.40 targets. These resistance levels could act as short-term price objectives.
Breaking Support and Continuing the Downtrend:
If the price fails to maintain this support range and drops below $3.86, selling pressure may increase, leading to a move towards lower levels. This scenario would indicate buyer weakness and strengthen sellers in the market.
Potential Scenarios:
Maintaining Support and Moving Upwards:
If the price holds within the $3.86 to $4.00 range and stabilizes, there is a possibility of rising towards the $4.20 and $4.40 targets. These resistance levels could act as short-term price objectives.
Breaking Support and Continuing the Downtrend:
If the price fails to maintain this support range and drops below $3.86, selling pressure may increase, leading to a move towards lower levels. This scenario would indicate buyer weakness and strengthen sellers in the market.
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