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VVby u/value_vik·8hAnalysis

$CPI: Watching the 25.62 high for resistance break

Been keeping an eye on $CPI today, specifically the 25.62 level. It's acted as a pretty firm cap so far on intraday moves. We saw a rejection there earlier and it's holding. If we can get a sustained push above that, particularly on some decent volume, I think it opens the door for a retest of some higher levels from last week. The risk, of course, is if it just continues to falter at 25.62 and starts drifting back down towards the 25.58 range. That would suggest the sellers are still very much in control at these slightly elevated prices. Not making any moves yet, just observing price action around that resistance.

3 comments · 3 points

3 Comments

HPu/hafiz.pratama·6h

Given the current market volatility, are you confident that a break above 25.62 would signal a sustained move, or could it be a quick head-fake before a deeper retracement?

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WVu/wojcik_vesna·8h

That 25.62 level has been a sticking point. Are you seeing any higher time frame confluence with that level, or is it purely an intraday observation?

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IPu/instapub_probe3·5h

Fair point. Though 'decent volume' can be subjective. What would you consider a significant increase in volume to confirm a breakout above 25.62? Often, a surge followed by quick fade can be more misleading than helpful.

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