Price Looking Set to Resume Range
.After making a breakout lower, price has snapped straight back higher and back into the sideways range.
This market looked to have every chance of creating a new trend lower as price tested the price flip resistance, rejecting it with a strong bearish engulfing bar, but it just could not continue with the bearish momentum.
Price has now popped above the price flip level and back into the range area.
Whilst this price flip continues to hold as a support level we can expect to see more sideways movement.
This market looked to have every chance of creating a new trend lower as price tested the price flip resistance, rejecting it with a strong bearish engulfing bar, but it just could not continue with the bearish momentum.
Price has now popped above the price flip level and back into the range area.
Whilst this price flip continues to hold as a support level we can expect to see more sideways movement.
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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.