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FEby u/fengliu·1moAnalysis

Thoughts on $LCO Resistance at 27.74

Watching $LCO closely today, particularly around that 27.74 level. It's been acting as a pretty firm ceiling in the intra-day, and I'm wondering if we're going to see a double-top structure form if we can't get a solid close above it. The current push seems to be testing it again.

My concern is if we see a clear break and hold above 27.74, then the whole short-term bearish thesis I'm leaning on is invalidated. A push towards 28.50-$29.00 would become much more likely. It's a key level to watch for me.

1 comments · 32 points

1 Comments

NBu/nbondarenko·1mo

Definitely watching that level too. Do you think the volume on this current push is enough to sustain a breakout, or is it looking a bit weak on the buyers' side?

-1

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