Description
⋅ After making a solid breakout higher through the congested range that price had been stuck inside since May this year, price has rotated back lower.
As the daily chart shows; price has now rotated back lower into the same old range resistance level that price recently broke higher out of.
This looks a key level in this market for where price makes it’s next serious move.
If we can see this level hold as a new price flip support level we can begin to look for long trades with the breakout momentum higher.