REP.usd Near-term Support Resistance: Augur done? or Reloaded?

Key levels to watch for trend strength determination.
Grey "Decision Zone" is likely to orbited a few times.
Ideally bulls get past "Strong Resistance" from here.

تعليق:

Resistance Noticed

Jumped thru the "Strong Resistance" only to be turned away by the "Minor" resistance above

Not at all rare, to overshoot a strong resistance and then run out of steam.

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Zoom IN (5min) for a closer look

Perfect confirmations of the resistance zones.
Now to see what the pullback does.

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Possible Supports above the grey "Decision Zone"

Red 2.618 at $17.30 is a MUST hold.
Red 2.236 at $17.62 is first possible bounce level.

Lets see how this goes, no clear signal whether it is done or has more to go.
But a pullback is clearly underway and how deep it goes will be key to assess to next target.


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تعليق:

Resistance? what resistance?

Blew through resistances without pulling back much

but not without acknowledgement.

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Zoom IN (15 min)

definitely took some effort go get thru the "Strong" Resistance.
Went thru the "Minor" resistance pretty easy this time.
Now sizzling against the 5.236.

confirmation of that blue 5.236 gives us its mate the 6.236 as possible next target

and that puts us almost exactly at the original target, $20.30.

By no means are we guaranteed it goes there, but IF it does, then a strong REACTION is pretty guaranteed.

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