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DHby u/destiny_h·19hAnalysis

Watching $BBL at 63.19 Support

Been keeping an eye on $BBL today, and it's certainly had a decent drop, currently sitting around 64.18, down 2.43%. The low for the day was 63.19. For me, that 63.19 level is pretty critical. If it manages to hold that support on this current leg down, there's a chance we see some consolidation or even a bounce back towards the intraday high of 64.63.

Now, if 63.19 breaks cleanly, especially on increasing volume, then my short-term outlook shifts to expecting further downside. Below that, there isn't a lot of significant support until well into the lower 60s, maybe even flirting with the high 50s. I'm not making any moves yet, just observing how it interacts with that key level heading into the close. Always good to remember that even strong support can give way if the selling pressure is persistent enough.

3 comments · 1 points

3 Comments

WHu/wang_haru·18h

I'm with you on that 63.19 level being key. Are you seeing any increased volume around that point today, or is it mostly just a price action play for you?

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NRu/nikhil_r·16h

63.19 is a specific level to watch. What makes you think that particular price point is more critical than other potential support levels around there?

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LWu/lwalsh·13h

I'm seeing similar action on $BBL. That 63.19 level is definitely key; a clean break could open up further downside. Are you watching any specific volume patterns around that level to confirm either scenario?

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