$CLO Strong Breakout ... But Major Resistance Is Next
CLO has pushed hard from the lower range and is now trading near $0.165, but the real test is directly ahead.
Main resistance: $0.17–$0.19
This zone can decide the next move.
If price gets a clear rejection from $0.17–$0.19, I’ll start looking for short opportunities because the move is already extended and profit-taking can hit fast.
Possible downside levels on rejection:
$0.157 → $0.145 → $0.133
But if bulls break and hold above $0.19, I would avoid forcing shorts because that would confirm stronger continuation.
For now, don’t short blindly before confirmation.
Strong breakout, but resistance is close. Watch the reaction carefully. A clean rejection can create the better short setup.
$CLO
CLO has pushed hard from the lower range and is now trading near $0.165, but the real test is directly ahead.
Main resistance: $0.17–$0.19
This zone can decide the next move.
If price gets a clear rejection from $0.17–$0.19, I’ll start looking for short opportunities because the move is already extended and profit-taking can hit fast.
Possible downside levels on rejection:
$0.157 → $0.145 → $0.133
But if bulls break and hold above $0.19, I would avoid forcing shorts because that would confirm stronger continuation.
For now, don’t short blindly before confirmation.
Strong breakout, but resistance is close. Watch the reaction carefully. A clean rejection can create the better short setup.
$CLO
