PM is currently retesting the 155–157 resistance zone, which previously acted as a major support area and now aligns with the 50-day SMA.
This makes the zone a critical decision point.
Bullish Scenario (If breakout occurs)
If price breaks and holds above 157–160:
Bullish Targets:
• $165
• $171
• $178
Bearish Scenario (More likely unless breakout confirmed)
If price gets rejected again:
Bearish Targets:
• $150
• $145
• $140 (key structural support)
Stop Loss
• Long: below $154
• Short: above $160.50
This makes the zone a critical decision point.
Bullish Scenario (If breakout occurs)
If price breaks and holds above 157–160:
Bullish Targets:
• $165
• $171
• $178
Bearish Scenario (More likely unless breakout confirmed)
If price gets rejected again:
Bearish Targets:
• $150
• $145
• $140 (key structural support)
Stop Loss
• Long: below $154
• Short: above $160.50
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.
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.