$FIL â Is $1.50 Coming? đ
FIL is currently testing a major resistance zone around $1.04â$1.08 on the 8H chart.
What Iâm watching:
âą FIL has been respecting an ascending support structure
âą Multiple reactions from the rising trendline show buyers are still defending it
âą Price is now back at the same resistance area
âą A clean breakout followed by a strong hold could open the way toward the $1.50 area
But thereâs one important condition:
I want to see FIL break the resistance and hold above it, not just wick through it.
If that happens, the structure becomes much more interesting.
FIL is currently testing a major resistance zone around $1.04â$1.08 on the 8H chart.
What Iâm watching:
âą FIL has been respecting an ascending support structure
âą Multiple reactions from the rising trendline show buyers are still defending it
âą Price is now back at the same resistance area
âą A clean breakout followed by a strong hold could open the way toward the $1.50 area
But thereâs one important condition:
I want to see FIL break the resistance and hold above it, not just wick through it.
If that happens, the structure becomes much more interesting.