OCTO has been playing with this blue level for a few weeks now. It has served several times as support and resistance. Now OCTO is trading within the range.
Two scenarios:
- OCTO breaks down after which it could easily drop to the 22 support level.
- OCTO breaks out and tests the diagonal trendline. If it breaks, I would expect a retest of the trendline and then a move towards the 35 level.
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Please feel free to share your view on this pair down below in the comment section. I'm more than happy to be challenged and have an interaction on this idea.
Also make sure to leave a like as it helps me out a lot!
Two scenarios:
- OCTO breaks down after which it could easily drop to the 22 support level.
- OCTO breaks out and tests the diagonal trendline. If it breaks, I would expect a retest of the trendline and then a move towards the 35 level.
------------------------------------------------------------------------------------------
Please feel free to share your view on this pair down below in the comment section. I'm more than happy to be challenged and have an interaction on this idea.
Also make sure to leave a like as it helps me out a lot!
