MTL is still going strong but will it go above WEEKLY Resistance
In daily timeframe, MTL has been making a healthy pumps with a proper retrace. Today's daily candle lowest is exactly at the golden pocket of weekly Fibonacci Retracement. This indeed is a good sign.
However, the resistance above is going to be stronger than other resistance. It is the weekly resistance level. Even tho there is still a bullish case in lower timeframe data, I would like to assume that we will see another healthy retrace to the $2.5~$2.6 area before breaking above the weekly resistance. That level need to maintain properly. Otherwise, it will be considered as a reversal in daily timeframe.
However, the resistance above is going to be stronger than other resistance. It is the weekly resistance level. Even tho there is still a bullish case in lower timeframe data, I would like to assume that we will see another healthy retrace to the $2.5~$2.6 area before breaking above the weekly resistance. That level need to maintain properly. Otherwise, it will be considered as a reversal in daily timeframe.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.