Summary
$SHELL just printed a powerful breakout candle after weeks of slow grinding sideways. Price surged from the 4H support region around 0.0554, breaking above short-term moving averages with strong momentum.
Chart Notes
• 24h Range: 0.0548 – 0.0686
• Recent Swing High: 0.0688
• Trend: Turning from bearish to neutral-to-bullish
• Volume: Big spike — strong confirmation of buyer interest
• Structure: Higher lows and an impulsive breakout candle shifting momentum
Why the Move?
After a long downtrend from 0.0688 to 0.0509, $SHELL began forming a tight accumulation range. The 7MA and 25MA started compressing, hinting at an upcoming move. Once volume kicked in, price blasted through both MAs and pushed straight into the 99MA zone with aggressive buying.
Key Levels
• Support: 0.0555 – 0.0565
• Immediate Resistance: 0.0660 – 0.0688
• Major Resistance: 0.0714 – 0.0760
• Breakout Confirmation: 4H close above 0.0688
Outlook
Short-term bias is bullish, but price is now testing a heavy resistance band where previous selling started. A small pullback would be healthy before continuation. If bulls can flip 0.0688 into support, the chart opens toward the 0.071–0.076 region.
Trading Idea (Not Financial Advice)
• Bulls: Look for retests of 0.0607–0.0620 or breakout-retest above 0.0688.
• Bears: Watch for a rejection wick at 0.0688–0.0714 for short setups.
• Safer traders: Wait for a confirmed 4H close above 0.0688 before joining trend.
