$SHELL - Weekly candle is up more than 15%, but the previous major high remains intact
The weekly structure of $SHELL has improved significantly.
Current week:
Open: 0.0209
High: 0.0244
Low: 0.0200
Current: 0.0241
Price is currently about 15.31% above the weekly open
Volume: about 90.67M SHELL
Price is now trading close to the weekly high after recovering strongly from the 0.0200 area.
However, the previous major high around 0.0255 still remains above.
For this reason, on the weekly timeframe it is still more accurate to describe the move as a strong recovery rather than a confirmed new uptrend.
Until the previous high is broken and price can hold above it, the larger structure has not fully changed.
#SHELL #WeeklyAnalysis #MarketStructure #Binance
The weekly structure of $SHELL has improved significantly.
Current week:
Open: 0.0209
High: 0.0244
Low: 0.0200
Current: 0.0241
Price is currently about 15.31% above the weekly open
Volume: about 90.67M SHELL
Price is now trading close to the weekly high after recovering strongly from the 0.0200 area.
However, the previous major high around 0.0255 still remains above.
For this reason, on the weekly timeframe it is still more accurate to describe the move as a strong recovery rather than a confirmed new uptrend.
Until the previous high is broken and price can hold above it, the larger structure has not fully changed.
#SHELL #WeeklyAnalysis #MarketStructure #Binance