$SHELL - Reached 0.0259 but breakout is still not confirmed
$SHELL moved from 0.0232 to 0.0259 during the August 22 session, representing an intraday gain of more than 11%.
However, the daily close was only 0.0234.
From the 0.0259 high to the closing price, the decline was about 9.65%.
This is why a brief move above resistance is not always enough to confirm a structural breakout.
The previous 0.0255 high was crossed intraday, but price could not remain above it.
The 0.0255 to 0.0259 area therefore remains an important resistance zone that needs more confirmation.
#SHELL #PriceAction #MarketStructure #Binance
$SHELL moved from 0.0232 to 0.0259 during the August 22 session, representing an intraday gain of more than 11%.
However, the daily close was only 0.0234.
From the 0.0259 high to the closing price, the decline was about 9.65%.
This is why a brief move above resistance is not always enough to confirm a structural breakout.
The previous 0.0255 high was crossed intraday, but price could not remain above it.
The 0.0255 to 0.0259 area therefore remains an important resistance zone that needs more confirmation.
#SHELL #PriceAction #MarketStructure #Binance