FIL is rebounding from the $3.03 support level
FIL is rebounding from the $3.03 support level. This level has acted as a critical point for supporting the price, and signs of a trend reversal may emerge here. However, the overall trend remains bearish, and the price must break key resistance levels to confirm a trend change.
Support and Resistance Levels:
$3.03 Support Level:
This is the primary support level from which the price has bounced. Maintaining this level could indicate short-term price stability.
$3.77 Resistance Level:
This is the key resistance level, and if the price can surpass it, it may signal a trend reversal and the beginning of a new upward movement.
$3.54 Support Level:
This is the next support level where the price might fluctuate before reaching the resistance.
Potential Scenarios:
Breaking the $3.77 Resistance:
If FIL can break through the $3.77 resistance, the price may move towards $4.00. This could confirm a trend reversal and the start of a new upward movement.
Failure to Break Resistance:
If the price fails to break the $3.77 resistance, it might return to the $3.03 support level, leading to further fluctuations or even declines.
Support and Resistance Levels:
$3.03 Support Level:
This is the primary support level from which the price has bounced. Maintaining this level could indicate short-term price stability.
$3.77 Resistance Level:
This is the key resistance level, and if the price can surpass it, it may signal a trend reversal and the beginning of a new upward movement.
$3.54 Support Level:
This is the next support level where the price might fluctuate before reaching the resistance.
Potential Scenarios:
Breaking the $3.77 Resistance:
If FIL can break through the $3.77 resistance, the price may move towards $4.00. This could confirm a trend reversal and the start of a new upward movement.
Failure to Break Resistance:
If the price fails to break the $3.77 resistance, it might return to the $3.03 support level, leading to further fluctuations or even declines.
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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.