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Thoughts on BRN's recent move
Watching $BRN today, the drop to 1.01-1.02 range after failing to hold 1.08 is interesting. I'm seeing a potential for this to consolidate around this lower level, but if we get a sustained push back above 1.05, that would invalidate the bearish lean I'm currently holding. It's a tricky one to call definitively right now, but the rejection at the top of today's range speaks volumes.
From here, I'll be looking for confirmation. A break below today's low of 1.01 could open up more downside, but I'd be cautious around 1.00 as a potential psychological support. It's not a clear-cut entry signal for me, but the risk for a push lower seems more pronounced if we can't reclaim that 1.05 quickly.
1 comments · 1 points
I'm seeing similar price action. That rejection around 1.08 certainly put a damper on any immediate bullish momentum, but the support at 1.01-1.02 could provide a base. It will be interesting to see if it consolidates there or if sellers regain control below that level.