Trend: Still in a strong uptrend since April. Price is consolidating after testing recent highs ($55). Structure remains bullish as long as key supports hold.
Support Zones: Immediate support at $49.10–47.22, aligning with 20 EMA. Deeper support sits at $43.86 (50 EMA) and $42.29–41.20 zone. A close below $41 would weaken the setup.
Resistance Levels: Overhead resistance at $55.17 (recent high). Breakout confirmation comes above $57.57 (Fib 2.618) → opens path to $62.19, then $73.94 / $84.05 / $90.31.
Momentum: RSI at 54.8 reset from overbought—room for another leg higher if buyers step in.
Outlook: Pullback may act as healthy retest of breakout zone. Holding above $47 keeps bulls in control. Watch $55–57 breakout for the next impulsive leg.
Support Zones: Immediate support at $49.10–47.22, aligning with 20 EMA. Deeper support sits at $43.86 (50 EMA) and $42.29–41.20 zone. A close below $41 would weaken the setup.
Resistance Levels: Overhead resistance at $55.17 (recent high). Breakout confirmation comes above $57.57 (Fib 2.618) → opens path to $62.19, then $73.94 / $84.05 / $90.31.
Momentum: RSI at 54.8 reset from overbought—room for another leg higher if buyers step in.
Outlook: Pullback may act as healthy retest of breakout zone. Holding above $47 keeps bulls in control. Watch $55–57 breakout for the next impulsive leg.
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.