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7.3 Friday, morning big 🫓 outlook: the rebound has no continuation—first 🈳 to watch within the day.
Yesterday, the big 🫓 kept choppy upward movement all the way. It rose to around 622, then quickly pulled back to test 611 support. Overnight it stayed in a narrow range and is currently hovering around 615.
On the 4-hour chart, there have been consecutive bullish candles trending upward. After the smaller timeframe broke above the upper band, price continued to range below the upper band. Meanwhile, this upswing has not shown follow-through, and the key overhead resistance also was not pierced. Clearly, the rebound is not a reversal. After the drop, a rebound repair is a normal course of action—so within the day, first watch for a pullback.
Referencing the 🈳 near 618 and 623: watch 600 below. If it does not continue after reaching the target area, promptly turn bearish—哆.