Resistance in channel
Updated
SE broke above some resistance levels on the log scale; however, still resides within a longer parallel channel on a regular scale.
Expect a short term rejection at the upper channel at ~90, which coincides with resistance within a symmetric wedge on the log scale.
Longer term SE can go either way, but would be very bullish if either upper channel (regular & log) are broken.
Targeting another drop to 65-70 level in the short term, followed by a long term increase.
Expect a short term rejection at the upper channel at ~90, which coincides with resistance within a symmetric wedge on the log scale.
Longer term SE can go either way, but would be very bullish if either upper channel (regular & log) are broken.
Targeting another drop to 65-70 level in the short term, followed by a long term increase.
Note
Nailed it. Multiple support levels broken. Still looking at $65 within the next few trading days.
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.