Building Support - Right under ResistanceI actually drew these S/R levels back at the beginning of the year when we had a little mini pump.
Here they are holding strong again, and we are building a nice base of action right below the first major leg of resistance.
There is a slight chance, we completely burst through the entire .65-1.00 range. Sometimes all the price action is priced out, in the face of a new market dynamic. This does NOT happen everytime. And in fact, and would be healthier to see a grinding move up through these resistance zone, where price breaks through, and retest it before making another move up.
Im not gonna be mad if we just rocket straight through to 1.00 and above. At that point, i'll take nearly any retest back in the 1.00-.65 zone. And reevaluate beyond that level.
