ARB on the 4H chart still looks strong even after spending weeks in consolidation. After the sharp move from 0.089 to 0.136, the price started correcting instead of fully reversing.
The pullback has been moving inside a descending channel, which usually acts as a temporary cooldown after a strong rally. Price recently defended the 0.113 area and bounced cleanly from it.
RSI is also back above the 60 level, showing momentum is slowly shifting back toward the bulls. That usually supports continuation if the price keeps holding higher lows.
Now ARB is pushing back toward the top of the channel and starting to test resistance again. Price action looks much healthier compared to the earlier part of the correction.
The key level to watch is 0.1327. If ARB breaks and holds above it, the next upside targets come in at 0.1376, 0.1400, and 0.1441.
We will update further information soon.
By BrightRally_Research
The pullback has been moving inside a descending channel, which usually acts as a temporary cooldown after a strong rally. Price recently defended the 0.113 area and bounced cleanly from it.
RSI is also back above the 60 level, showing momentum is slowly shifting back toward the bulls. That usually supports continuation if the price keeps holding higher lows.
Now ARB is pushing back toward the top of the channel and starting to test resistance again. Price action looks much healthier compared to the earlier part of the correction.
The key level to watch is 0.1327. If ARB breaks and holds above it, the next upside targets come in at 0.1376, 0.1400, and 0.1441.
We will update further information soon.
By BrightRally_Research
Trade closed: target reached
ALL TP REACHED!
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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.
Related publications
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.