After months of compression within a well-respected falling channel, #MELANIA has printed a high-volume breakout above the channel resistance — confirming a reversal structure with strong momentum expansion.
🔍 Technical Confirmation:
• Breakout from long-term downtrend resistance
• Multiple clean touches on channel boundaries (valid structure)
• Bullish engulfing candle with volumetric confirmation
• Price action suggests potential retest before continuation
🎯 Upside Targets based on measured move and fib projections:
→ $0.40 (structural pivot zone)
→ $0.50 (supply confluence)
→ $0.80 (channel height projection)
Watch for bullish retest of breakout zone to confirm continuation
🔍 Technical Confirmation:
• Breakout from long-term downtrend resistance
• Multiple clean touches on channel boundaries (valid structure)
• Bullish engulfing candle with volumetric confirmation
• Price action suggests potential retest before continuation
🎯 Upside Targets based on measured move and fib projections:
→ $0.40 (structural pivot zone)
→ $0.50 (supply confluence)
→ $0.80 (channel height projection)
Watch for bullish retest of breakout zone to confirm continuation
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.