$CYS has been one of the more volatile charts lately, but the 1H structure is starting to give an interesting setup.
After pushing up toward the $1.70 area, price went through a sharp correction and found buyers again around the $0.95–$1.00 region.
Right now, CYS is trading around $1.24 and has managed to recover strongly from the recent dip. The main zone I’m watching is the $0.76–$0.84 support area. If price pulls back into this zone and buyers defend it, I’d be looking for a potential continuation move back toward $1.30–$1.40 and possibly higher if momentum returns.
The bullish idea would become more interesting if CYS starts forming higher lows and holds above the recent recovery levels. But if the support zone fails, this setup needs to be reconsidered.
Volatility is high, so confirmation and proper risk management are important.
After pushing up toward the $1.70 area, price went through a sharp correction and found buyers again around the $0.95–$1.00 region.
Right now, CYS is trading around $1.24 and has managed to recover strongly from the recent dip. The main zone I’m watching is the $0.76–$0.84 support area. If price pulls back into this zone and buyers defend it, I’d be looking for a potential continuation move back toward $1.30–$1.40 and possibly higher if momentum returns.
The bullish idea would become more interesting if CYS starts forming higher lows and holds above the recent recovery levels. But if the support zone fails, this setup needs to be reconsidered.
Volatility is high, so confirmation and proper risk management are important.