Climatic buying into top at 9 may result in a run out of steam as commitment burns out and the price does not offer much more value resulting in a gradual pull back (time, news and economics dependent) which may offer a good entry at the 50% retracement. Should it move deeper a more significant level at 3 which was previously strong resistance would work as a good support level for a continuation bounce with targets set for 9 again and potentially higher from there.
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.
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.