Rix732

Rix732

At region (a), the excess is relatively small, indicating that seller exhaustion isn't very strong, which led to the current situation at region (b), where the buyers' initial breakout was weak, and sellers responded swiftly. This suggests a false breakout. It’s best to wait and observe how the price behaves around the POC at 544. If the price holds above the POC...

Rix732

In the daily chart, it’s unlikely the price will drop, as strong support was found at 220 from April to October. The current state is a breakout retest of the major resistance at 615. On the 4-hour chart, the price has been ranging for two weeks, with 602 acting as new support. A strong bearish wick appeared on October 7 at 1pm, but high volume has not yet...