Trent — Cup & Handle Breakout, Now Retesting Support at 2870-2988 📊
📍 Pattern: A textbook cup-and-handle formation —
Cup: Rounded bottom from Feb-Apr '26, basing near 2198 and smoothly recovering to ~2870-2988 (gradual accumulation, not a sharp V)
Handle: Consolidation in the 2700-2988 zone through Apr-Jun, tightening before the move
📍 Breakout: Clean breakout from the handle in Jun-Jul, running straight up toward ~3400, where it hit resistance for the first time.
📍 Current Action: Sharp pullback from the highs, bringing price right back into the 2870-2988 zone — the same area that was resistance during the handle phase. This is a classic "broken resistance turns support" retest.
📍 Watch Levels:
Hold 2870-2988 → cup-and-handle thesis stays intact, next target remains ~3400
Break below this zone → pattern weakens, would need to reassess structure
3400 is still an untested ceiling (only touched once) — a real resistance test is still pending
⚠️ Not a buy/sell recommendation — sharing technical structure only. Apply your own risk management.
📍 Pattern: A textbook cup-and-handle formation —
Cup: Rounded bottom from Feb-Apr '26, basing near 2198 and smoothly recovering to ~2870-2988 (gradual accumulation, not a sharp V)
Handle: Consolidation in the 2700-2988 zone through Apr-Jun, tightening before the move
📍 Breakout: Clean breakout from the handle in Jun-Jul, running straight up toward ~3400, where it hit resistance for the first time.
📍 Current Action: Sharp pullback from the highs, bringing price right back into the 2870-2988 zone — the same area that was resistance during the handle phase. This is a classic "broken resistance turns support" retest.
📍 Watch Levels:
Hold 2870-2988 → cup-and-handle thesis stays intact, next target remains ~3400
Break below this zone → pattern weakens, would need to reassess structure
3400 is still an untested ceiling (only touched once) — a real resistance test is still pending
⚠️ Not a buy/sell recommendation — sharing technical structure only. Apply your own risk management.
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.
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.