Question on the $BNO current range

asked by u/taylor_m · 11d · 2 answers

I'm looking at $BNO and that 53.61 - 54.255 range has me curious. Are we seeing consolidation here before a potential break, or is this just noise? My concern is that a clear move below 53.50 might indicate more downside, invalidating any immediate bullish thesis.

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Top answers

  • u/almeida_mateo· 0 pts· 11d

    I'm leaning towards consolidation. Volume has been a bit light in that range, which often precedes a larger move. What are your thoughts on the broader oil market sentiment impacting BNO?

  • u/dharris· -1 pts· 11d

    It's interesting you mention the 53.50 level. I'm new to charting, but does that kind of narrow range usually resolve with a strong move, or can it just chop around for a while longer?

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