$SOXL 4H HEAVY SELL-OFF 📉 ... Bulls Still Struggling!
$SOXL has continued its brutal downtrend, dumping all the way from a high of 109.15 down to a 24h low of 65.47. Currently trading around 70.51 (-4.91%), the 4H chart shows choppy price action with heavy rejection wicks on the upside.
Price is desperately trying to hold the 65-70 support zone, but momentum remains weak.
A strong bounce from here could push price towards the 79.63 – 92.31 resistance levels.
If momentum returns, a relief rally towards 104.99 is possible.
As long as 65.47 holds as the absolute bottom, I still see a chance for a short-term recovery.
Still risky ... Buyers need to show real strength and break above 79.63 first.
Use stop loss while trading.
Trade on $SOXL
$SOXL has continued its brutal downtrend, dumping all the way from a high of 109.15 down to a 24h low of 65.47. Currently trading around 70.51 (-4.91%), the 4H chart shows choppy price action with heavy rejection wicks on the upside.
Price is desperately trying to hold the 65-70 support zone, but momentum remains weak.
A strong bounce from here could push price towards the 79.63 – 92.31 resistance levels.
If momentum returns, a relief rally towards 104.99 is possible.
As long as 65.47 holds as the absolute bottom, I still see a chance for a short-term recovery.
Still risky ... Buyers need to show real strength and break above 79.63 first.
Use stop loss while trading.
Trade on $SOXL
