$MUB 24-hour high, current price 765.62, previous high 761.83.
After a new high, there are three common patterns:
① Pull back to the previous high, hold, then move up another step: the healthiest pattern
② Consolidate around the previous high: digest the move and wait for direction
③ Drop straight back below the previous high and fail to reclaim it: a bull trap
For now, price is still above the previous high. First, let's see whether it follows ① or ②.
After a new high, there are three common patterns:
① Pull back to the previous high, hold, then move up another step: the healthiest pattern
② Consolidate around the previous high: digest the move and wait for direction
③ Drop straight back below the previous high and fail to reclaim it: a bull trap
For now, price is still above the previous high. First, let's see whether it follows ① or ②.