Oriental Hotels is forming an Inverted Head & Shoulder along with a large rounding bottom which makes this structure very interesting. The broader rounding bottom shows how the long selling phase has slowly shifted towards accumulation while the Inverted Head & Shoulder shows sellers failing to push price back towards the previous lows. The right shoulder is now developing at a much higher level and price is again pressing near the major falling resistance around 145–150.
A clean breakout and sustain above the 145–150 neckline zone can confirm both reversal structures together. That is where the psychology can change quickly as sellers sitting near resistance start getting trapped and fresh buyers enter after confirmation. Liquidity is sitting above this zone and once price accepts above it momentum can expand towards 160–170 first. Two reversal structures are pointing towards the same breakout and that can make the move much more powerful.
A clean breakout and sustain above the 145–150 neckline zone can confirm both reversal structures together. That is where the psychology can change quickly as sellers sitting near resistance start getting trapped and fresh buyers enter after confirmation. Liquidity is sitting above this zone and once price accepts above it momentum can expand towards 160–170 first. Two reversal structures are pointing towards the same breakout and that can make the move much more powerful.
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.