This level (approx 35.40$) has shown itself to be effective on multiple occasions. Earlier this year price formed a double top which confirmed being bearish followed by two failed attempts to break above resistance again. Price is now showing weakness and indecision again close to this resistance...
I would now enter short if price falters or, if a break should occur, go long above resistance. Considering price has spent a lot more time below this level, I am biased to a more bearish disposition but essentially time and price behaviour will tell!
I would now enter short if price falters or, if a break should occur, go long above resistance. Considering price has spent a lot more time below this level, I am biased to a more bearish disposition but essentially time and price behaviour will tell!
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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.