After tendline breakout, can JUP hold this support zone?
Major Support Level: 0.565-0.575
Major Resistance : 0.625- 0.64
There is a breakout from a trendline as you can see on the chart. Then it reachd the support and the trendline is retested and seems like it got a rejection from there. So here is some possibilities of more downward movement. We may see new bottom (ATL) in case it breaks the support zone.
But if it somehow can hold the support then we will price reclaiming the 0.62-0.64 zone. In this case, there will be a weak resistance around 0.605
Major Resistance : 0.625- 0.64
There is a breakout from a trendline as you can see on the chart. Then it reachd the support and the trendline is retested and seems like it got a rejection from there. So here is some possibilities of more downward movement. We may see new bottom (ATL) in case it breaks the support zone.
But if it somehow can hold the support then we will price reclaiming the 0.62-0.64 zone. In this case, there will be a weak resistance around 0.605