CHXEUR:BVSL has made attempts to break through the strong resistance level in the past
but couldn't quite make it through.
A break of this all-time high at £12.20 created in April 2007 could indicate the beginning of a strong trend.
That breakout confirmation is essential as the high has not been broken after a number of attempts in the past.
We can see price has been making higher lows which tells us that the sellers have not been able to push price lower.
The buyers are holding strong right now and could potentially force price to squeeze through the all-time high real soon.
If we do see a breakout we want to ensure that price has not made a fake breakout so we need to at least wait for a second breakout
to confirm the buyers are able to keep price above that level.
More updates will follow when we have some significant movement.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading
but couldn't quite make it through.
A break of this all-time high at £12.20 created in April 2007 could indicate the beginning of a strong trend.
That breakout confirmation is essential as the high has not been broken after a number of attempts in the past.
We can see price has been making higher lows which tells us that the sellers have not been able to push price lower.
The buyers are holding strong right now and could potentially force price to squeeze through the all-time high real soon.
If we do see a breakout we want to ensure that price has not made a fake breakout so we need to at least wait for a second breakout
to confirm the buyers are able to keep price above that level.
More updates will follow when we have some significant movement.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading