$SKL 7 hit a new daily low at 0.0044, below the previous low of 0.004404.
After a new low, three common patterns are:
① Rebounds to the previous low, then falls back: weakness continues
② Trades sideways near the previous low: changing hands while waiting for direction
③ Quickly recovers above the previous low and holds: a bear trap
It’s currently below the previous low, so first watch whether it follows ① or ②.
This may not be accurate, so make your own judgment.
After a new low, three common patterns are:
① Rebounds to the previous low, then falls back: weakness continues
② Trades sideways near the previous low: changing hands while waiting for direction
③ Quickly recovers above the previous low and holds: a bear trap
It’s currently below the previous low, so first watch whether it follows ① or ②.
This may not be accurate, so make your own judgment.