It’s great to see that support level being respected again in today’s follow-up analysis!
As projected previously, price tapped that support level again cleanly. This shows there's solid demand there. 💪
Now, here are the key next steps to watch for:
- See if the 0.9880 can hold as the daily candlesticks close. Some further deviation below it is okay as long as the daily closes stay above.
- Look for buying opportunities on a rebound off the 0.9880 support. We could see an upside towards 1.16 or retests of previous highs if 0.9880 continues holding. 📈
- Monitor the daily candlestick closes carefully. If we get a strong daily close decisively below 0.9880, that would invalidate it as support and open the door for further downside. 📉 The next area to watch would then be around 0.9018.
- For now, the 0.9880 area remains key. As long as daily closes stay above it, we can maintain a bullish bias and look for long setups on pullbacks.
So, you can take "buy the dip" opportunities on ARB in the medium term. 👍
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