2 possibilities at daily resistance
The previous 2 daily candles have closed as bearish pinbars indicating a strong rejection at resistance form the sellers and a possible downmove.
However, the previous swings at this level show that selling pressure is losing momentum. If the market starts to consolidate at resistance, we could see a breakthrough and a continued upmove.
However, the previous swings at this level show that selling pressure is losing momentum. If the market starts to consolidate at resistance, we could see a breakthrough and a continued upmove.
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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.