$SHELL After hitting a six-month high, there are roughly three possible paths from here:
① It retests 0.03959 and holds, turning the previous high into support; ② it consolidates at elevated levels as volume gradually tapers off; ③ it falls back below 0.03959, making this a false breakout.
The current price is 0.04077, still above the previous high, so it’s too early to tell which scenario will play out. Trading volume this time was 37 times the 20-day average, so whether volume remains strong going forward will be crucial.
Is this an opportunity or just noise?
#SHELL
① It retests 0.03959 and holds, turning the previous high into support; ② it consolidates at elevated levels as volume gradually tapers off; ③ it falls back below 0.03959, making this a false breakout.
The current price is 0.04077, still above the previous high, so it’s too early to tell which scenario will play out. Trading volume this time was 37 times the 20-day average, so whether volume remains strong going forward will be crucial.
Is this an opportunity or just noise?
#SHELL