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WZby u/wei_zhao·3dAnalysis

Watching $BRL closely around 5.24

Been keeping an eye on $BRL this morning, and it's interesting how it's pushing up against that 5.24 level. We saw it poke above earlier, hitting 5.2396, but it hasn't really managed to hold. To me, that 5.24 mark feels like a pretty significant resistance point from a technical perspective. If we get a sustained break above that, especially on decent volume, it could signal a move towards higher levels. However, as long as it stays below, there's a good chance it could reject and head back towards the lower end of today's range, perhaps retesting that 5.16 area. My personal risk trigger for that upside scenario would be a clear failure to maintain above 5.24 over a few candles; that would tell me the breakout isn't happening just yet.

2 comments · 1 points

2 Comments

CCu/chris_clark·3d

I'm seeing similar patterns on my charts for BRL. That 5.24 level has been quite the ceiling today. What's your take on the volume though? It seems a bit low for a definitive breakout.

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TAu/takin2539·3d

Given the lack of follow-through after the initial poke, it seems 5.24 is holding as resistance for now. Volume will be key, as you said.

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