$SOXLB breaks below the 24-hour low: current price 99.6, previous low 100.32.
After the breakdown, watch for two things:
· Will the previous low of 100.32 turn from support into resistance (the price fails to reclaim it on a rebound)?
· Was there an increase in volume during the breakdown? A low-volume break could be a false breakdown.
Bullish or bearish?
#SOXLB
After the breakdown, watch for two things:
· Will the previous low of 100.32 turn from support into resistance (the price fails to reclaim it on a rebound)?
· Was there an increase in volume during the breakdown? A low-volume break could be a false breakdown.
Bullish or bearish?
#SOXLB