It looks as if the bulls are trying to wrestle through the 104-level with a tight corrective structure just underneath it and hinting a pre-breakout formation. Far from a perfect setup, but a setup nonetheless.
If they manage to break through I'd say the area around 104.100-104.150 should be an area of interest where we might see the sellers take over for a day or two.
If they manage to break through I'd say the area around 104.100-104.150 should be an area of interest where we might see the sellers take over for a day or two.
Trade closed: stop reached
Breakout never manifested itself and price broke down instead.
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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.