PLTR big bullish move these coming weeks Weekly Chart Monthly chart is showing a strong monthly Break and retest of the Support/Resistance level.
Price has been struggling to push up from July 2023 to Feb 2024. And we see price finally breaking above S/R level with strong bullish momentum. Expected the price to come back down for a quick retest. Currently price is sitting on Support level with Month of May candle being a doji candle. Showing there is no selling pressure nor buying pressure. Waiting for the next big news event.
Going into the Weekly Chart, we can see a clear bullish structure. Price is making HH and HL.
Price has also pulled back correctively into 50-61.8 FIB.
We also have a bullish trendline. The third tap of the trendline usually always gives a strong momentum with the trend.
Confluence --
1. Break and Retest of Strong Monthly S/R
2. Weekly Chart shows bullish impulsive move followed by a corrective move into 50-61.8 FIB
3. Tapping into Strong bullish trendline.