Price action is pulling back significantly after failing to hold higher levels following a quick spike.
$NFLXB rallied off the 78.31 low to reach a high of 78.53 before encountering strong selling pressure, driving price back down to 78.38. The Supertrend line at 78.46 has flipped overhead, acting as immediate resistance, while volume spiked on the initial push but has dropped off during this retracement.
The short-term structure is under pressure after the rejection from local tops. Stay patient, wait for confirmation, and observe whether buyers can defend 78.31 or if sellers push price lower.
Will $NFLXB manage to hold its low at 78.31, or is more downside ahead?
#NFLXB
$NFLXB rallied off the 78.31 low to reach a high of 78.53 before encountering strong selling pressure, driving price back down to 78.38. The Supertrend line at 78.46 has flipped overhead, acting as immediate resistance, while volume spiked on the initial push but has dropped off during this retracement.
The short-term structure is under pressure after the rejection from local tops. Stay patient, wait for confirmation, and observe whether buyers can defend 78.31 or if sellers push price lower.
Will $NFLXB manage to hold its low at 78.31, or is more downside ahead?
#NFLXB
