@quokkaMag7 Otherwise, will be looking closely to a retest of support around the 68-71 zone. This acted as a previous temporary buffer to price and would be an obvious support to form another base soon. A break below there means I lose all bullish conviction entirely. Keep an eye on it ๐
@quokkaMag7 Breaking above there will show serious strength behind the trend and would look to me like it has momentum sufficient to move considerably higher to next res (enough to go long if risk mngmt is permissible by strat)
@joetrade5 I agree. While Iโm anticipating a reversal to the upside here, if price moves against it and support breaks down after a very flimsy move upwards, I would consider the longer-term downtrend to be absolutely still in effect with reasonable strength behind it
@billysal313 Given the support is still holding, I will assume a swing to the upside is still the most probable outcome. Iโm bullish here until support is broken