DRIP potential rebound from support zone

DRIP is consolidating near the key support area of 8.40–8.60. Over the past few months, this level has been tested multiple times, creating a strong base for a possible rebound. If local resistance around 9.50–10.00 is broken, the price may extend toward 11.20 and 12.00. However, a breakdown below support could trigger a move toward 8.00.
From a fundamental perspective, DRIP reflects the dynamics of the oil and gas sector, where pressure on producers remains high. In the current market environment, DRIP can serve as a hedge against rising oil prices.
From a fundamental perspective, DRIP reflects the dynamics of the oil and gas sector, where pressure on producers remains high. In the current market environment, DRIP can serve as a hedge against rising oil prices.
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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.