The blue boxes show signs of previous strength in those price ranges. We see weakness in the trading range highlight in the yellow box. The upper blue box shows stronger historical price action. This upper blue box could act as initial resistance. Currently we are seeing strength in the current accumulation phase and seem to be sticking to a solid price range that could act as future support. The 2 green arrows indicate possible resistance points should we break out of the current range.
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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.
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.