SUI had a significant rise in the past week. By extending last weeks pwProfile, we can see that the POC didn´t move at all. Value is far more important than price. Price is simply advertising opportunity. That´s why I strongly believe that it will retrace a lot. We also had some short-covering in the past days. Those profiles need to get re-inspected, making their POC an important target. There is pretty nice confluence with the pmPOC at 3.28 ish. Selling here at the highs of the current pwProfile or even above is a very good idea imo. Biggest risk for bulls, biggest opportunity for bears. I wanna see the pmPOC (previous month point of control) and pdPOC (previous day point of control) below. If price would break below, I would focus on the pwVAL next.
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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.