Buyers managed to break price above the key resistance zone, showing strong conviction as they pushed through the area with strength.
If price pulls back into the broken level and buyers successfully defend it, holding above and rejecting downside attempts, that becomes our long confirmation. The retest confirms the level has flipped from resistance into new support, and it's ready for the next bullish leg upward.
If price pulls back into the broken level and buyers successfully defend it, holding above and rejecting downside attempts, that becomes our long confirmation. The retest confirms the level has flipped from resistance into new support, and it's ready for the next bullish leg upward.
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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.