It's interesting to see $KC flirting with the 9.40 level again. We had a decent break above this a few sessions ago, suggesting a potential shift in sentiment, but the follow-through has been pretty weak. If it can't hold this, then the prior range low around 9.20-9.25 comes back into play, invalidating that recent 'breakout' entirely.
I'm still learning to read charts, but I've noticed this pattern a few times now where a 'breakout' doesn't really stick. What makes some breakouts more reliable than others?
I'm with you on the weak follow-through; it certainly makes you question the conviction behind that initial move. Do you think there's enough macro pressure right now to push it back down to that 9.20-9.25 range, or is it more of a lack of fresh catalysts for upside?
I'm still learning, but do you think the weaker follow-through might be due to broader market sentiment, or more specific to $KC itself? I'm trying to get a better handle on how to differentiate those factors.
I'm seeing the same thing. The lack of follow-through after the initial move above 9.40 was definitely concerning, and it really makes you wonder if that 'breakout' was more noise than signal. Do you think we'll see any significant support around the 9.20-9.25 area if it drops further?