$MATIC: Watching the 0.28 resistance, post-consolidation
Been keeping an eye on $MATIC after what felt like an eternity of sideways chop. We've seen a decent bounce from the low 0.27s today, pushing into the 0.2826 area. My concern here is whether this is just a relief rally hitting prior resistance or if there's actual momentum to break out. The 0.28-0.29 zone has been a bit of a sticky wicket for a while now. If we can get a sustained close above, say, 0.285, especially on decent volume, it might suggest a push towards 0.30 is on the cards. However, a rejection from these levels and a dip back towards the 0.27 support, especially if we break below the daily low of 0.27266, would quickly invalidate any bullish thoughts I'm entertaining. It's a tricky one – the options market isn't pricing in any wild moves, but then again, it rarely does right before things get interesting. Just my two cents, and I've been wrong plenty of times before.