Yesterday, people were still waiting for a bounce. Today, they got a higher price. $SHELL rose 60.84% in a day, to 0.0313, but it has already fallen quite a bit from its 24-hour high of 0.0516. It’s up just 1.99% in the past hour, so this rally is clearly cooling off.
In plain English: A 60.84% gain looks scary, but the pullback from the high shows that people who bought in at the top are already taking profits. The 0.0313 level is where bulls and bears are battling it out. If it holds, there’s still a chance; if it doesn’t, this will be a textbook case of a spike followed by a pullback.
I’m leaning toward sitting tight for now, because a gain of just 1.99% in an hour means chasing the rally is no longer worth it. But if it climbs back near 0.0516, I’ll change my mind immediately—that would mean there’s another leg up.
At this price, are you more worried about holding or not holding?
$SHELL
#SHELL #Market Analysis
In plain English: A 60.84% gain looks scary, but the pullback from the high shows that people who bought in at the top are already taking profits. The 0.0313 level is where bulls and bears are battling it out. If it holds, there’s still a chance; if it doesn’t, this will be a textbook case of a spike followed by a pullback.
I’m leaning toward sitting tight for now, because a gain of just 1.99% in an hour means chasing the rally is no longer worth it. But if it climbs back near 0.0516, I’ll change my mind immediately—that would mean there’s another leg up.
At this price, are you more worried about holding or not holding?
$SHELL
#SHELL #Market Analysis