Risking a bottom rebound
Strong bullish rebound at 36.29-37.64 support zone was relatively a strong signal for bottoming. Though larger trend from 15 Aug 2023 looks distributive, we are gunning for one more short-term upside towards 41.00, 43.08 and 46.00 tp prices.
First, the piercing line rebounded after a bearish gap down the day before, signaling bearish exhaustion. Though prices has yet to clear the resistance at 39.03, the consolidative narrow range is likely to be a bullish continuation for the shorter-term period. Hence, I maintain my buy.
First, the piercing line rebounded after a bearish gap down the day before, signaling bearish exhaustion. Though prices has yet to clear the resistance at 39.03, the consolidative narrow range is likely to be a bullish continuation for the shorter-term period. Hence, I maintain my buy.
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