Gas It Up: Ready to Explode Above $3.70

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Trade Setup:

Buy above: $3.705 (breakout confirmation above minor resistance marked in blue)
CMP: $3.697 (awaiting breakout confirmation)

Target Levels (Upside potential):
• T1: $3.735 – minor resistance from recent wick top
• T2: $3.765 – swing high from the previous impulse
• T3: $3.795 – high of the breakout candle before major drop

Stop-Loss:
• SL: $3.678 (below the recent demand zone & wick support area)

Rationale:
• Strong volume seen at lows around $3.67–3.68 indicating absorption and buying interest.
• Price is consolidating above the support box and just under breakout level – a bullish flag/pennant structure.
• MACD crossover likely if breakout occurs, confirming upward momentum.

Risk-Reward (from entry $3.705):
• T1: ~1:1
• T2: ~1.8:1
• T3: ~3:1


Wait for a candle close above $3.705 with volume for confirmation before entering.
Trail SL once T1 is hit to secure partial profits.

Penafian

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