$S Fresh Highs, But Rejection Signals Near-Term Cooling
$S is trading at $0.5296 after hitting a session high of $0.5382, printing a daily gain over 10%. However, a rejection from the upper wick and a red candle suggest cooling after an extended rally.
Key Technical Levels:
• Resistance: $0.5380
• Support: $0.5200
Trade Setup – Strong Rally May Need a Breather:
Bullish Scenario:
• Entry: Breakout above $0.5380 with volume confirmation
• TP1: $0.5500
• TP2: $0.5620
• TP3: $0.5800
• Stop-Loss: Below $0.5200
Bearish Scenario:
• Entry: Breakdown below $0.5200
• TP1: $0.5100
• TP2: $0.4980
• Stop-Loss: Above $0.5380
This is a key retest zone. Wait for decisive confirmation before jumping in—momentum is strong, but exhaustion is showing.
