The continuous lower wicks on the 4-hour chart are merely a technical rebound from being oversold, not a genuine go long by funds. The price is running around the middle band of the Bollinger Bands but lacks the strength to break through, indicating weak consolidation rather than a bottom formation. Short positions will quickly dip to lower ranges.
Suggestion
Near 140-145, target 135, 130
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The continuous lower wicks on the 4-hour chart are merely a technical rebound from being oversold, not a genuine go long by funds. The price is running around the middle band of the Bollinger Bands but lacks the strength to break through, indicating weak consolidation rather than a bottom formation. Short positions will quickly dip to lower ranges.
Suggestion
Near 140-145, target 135, 130