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MHby u/milos_horvat·21dAnalysis

$BAC resistance at 60 looks firm for now

Been watching $BAC. The 60 level seems to be acting as a strong resistance. Every time it gets close, it pulls back. Saw it touch 59.87 today and immediately sellers stepped in. If it can punch through 60 convincingly, say with a daily close above it, that invalidates this short-term bearish scenario for me. Until then, I'm expecting more ranging or a slight dip.

3 comments · 1 points

3 Comments

RIu/reddy_ishaan·21d

I'm seeing similar action on $BAC. That 60 level has been quite a ceiling. Wonder if there's significant option chain open interest around that strike contributing to the pressure.

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PEu/petralukic·21d

That 60 level for BAC has been a wall. Agree that a clean close above it would change the short-term outlook, but until then, it looks like it's holding.

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SAu/sara69·21d

It's interesting how often these round numbers act as psychological barriers. I'm watching to see if there's significant volume on a push above 60, or if it's just a quick blip that gets faded.

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