In daily timeframe, MTL has been making a healthy pumps with a proper retrace. Today's daily candle lowest is exactly at the golden pocket of weekly Fibonacci Retracement. This indeed is a good sign.
However, the resistance above is going to be stronger than other resistance. It is the weekly resistance level. Even tho there is still a bullish case in lower timeframe data, I would like to assume that we will see another healthy retrace to the $2.5~$2.6 area before breaking above the weekly resistance. That level need to maintain properly. Otherwise, it will be considered as a reversal in daily timeframe.
However, the resistance above is going to be stronger than other resistance. It is the weekly resistance level. Even tho there is still a bullish case in lower timeframe data, I would like to assume that we will see another healthy retrace to the $2.5~$2.6 area before breaking above the weekly resistance. That level need to maintain properly. Otherwise, it will be considered as a reversal in daily timeframe.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.