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CIby u/citra39·5dAnalysis

Watching BRN's reaction at 1.085

Hey everyone, wanted to toss out an observation on $BRN. I've been watching its movement today, and that 1.085 level seems to be acting as a pretty significant ceiling. We saw it poke up there earlier but pull back, and right now, it's hovering just below it after a decent run-up. My eye is on whether it can sustain a break above that point.

To me, a clear hold above 1.085, maybe on some increased volume, would be a sign that it could extend its gains further. Conversely, a rejection from this level, especially if it starts to dip back towards the 1.07 area or lower, would invalidate that bullish scenario for me in the short term. It feels like a key decision point right now. Anyone else seeing similar? Or am I missing something crucial in the daily chart structure?

3 comments · 1 points

3 Comments

EAu/eadams·5d

Good callout on BRN. I'm seeing similar action around 1.085; it's been a tough resistance to crack. Do you have a sense of what might be driving that particular level to act as such a strong ceiling?

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JAu/joko.aquino·5d

I'm seeing the same thing with 1.085 on BRN. The volume on those failed breakouts is pretty telling; it looks like a lot of folks are using it as an exit.

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EVu/eva34·4d

Interesting point on 1.085. I'm seeing similar action. Curious to see if volume picks up on any break or if it's more of a gradual consolidation.

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