We were In last week's trade looking for price to finally breakout higher in this market.
Whilst price did make the breakout through the resistance level , there was not the explosion that some may have expected.
After the breakout price made a quick rotation back lower where the breakout resistance held as a new support level .(see the 1 hour chart)
If this level now holds we could see price make a move higher into a resistance not tested since 2012 before a potential move much higher
Whilst price did make the breakout through the resistance level , there was not the explosion that some may have expected.
After the breakout price made a quick rotation back lower where the breakout resistance held as a new support level .(see the 1 hour chart)
If this level now holds we could see price make a move higher into a resistance not tested since 2012 before a potential move much higher
