Long
PLTR big bullish move these coming weeks Weekly Chart
Monthly chart is showing a strong monthly Break and retest of the Support/Resistance level.
Price has been struggling to push up from July 2023 to Feb 2024. And we see price finally breaking above S/R level with strong bullish momentum. Expected the price to come back down for a quick retest. Currently price is sitting on Support level with Month of May candle being a doji candle. Showing there is no selling pressure nor buying pressure. Waiting for the next big news event.
Going into the Weekly Chart, we can see a clear bullish structure. Price is making HH and HL.
Price has also pulled back correctively into 50-61.8 FIB.
We also have a bullish trendline. The third tap of the trendline usually always gives a strong momentum with the trend.
Confluence --
1. Break and Retest of Strong Monthly S/R
2. Weekly Chart shows bullish impulsive move followed by a corrective move into 50-61.8 FIB
3. Tapping into Strong bullish trendline.
Price has been struggling to push up from July 2023 to Feb 2024. And we see price finally breaking above S/R level with strong bullish momentum. Expected the price to come back down for a quick retest. Currently price is sitting on Support level with Month of May candle being a doji candle. Showing there is no selling pressure nor buying pressure. Waiting for the next big news event.
Going into the Weekly Chart, we can see a clear bullish structure. Price is making HH and HL.
Price has also pulled back correctively into 50-61.8 FIB.
We also have a bullish trendline. The third tap of the trendline usually always gives a strong momentum with the trend.
Confluence --
1. Break and Retest of Strong Monthly S/R
2. Weekly Chart shows bullish impulsive move followed by a corrective move into 50-61.8 FIB
3. Tapping into Strong bullish trendline.
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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.