Sealink International Bhd Bullish Trend Still Intact1. Key Levels & Context:
Range: Price is rebounded from Higher Low for External Structure and MA200 at 0.265 and it is noticeable that the during the pullback, the volume is drying out.
2. Resistance Zone: Strong resistance at 0.340 - 0.360 and 0.365 - 0.380, influenced by:
a) Previous Lower Highs acting as dynamic resistances.
b) Bearish weekly candle.
c) Overlapping supply zone.
3. Short-Term Bias:
a) In H2 (Lower Timeframe):
- Change of Character (ChoCh) at 0.305 indicates a reversal in the Internal Structure for bullish trend to continue supported with the Gap and New Volume.
b) Validation & Invalidation:
- Bullish Validation: A daily close above 0.340 confirms upward momentum, targeting the next levels around 0.380 and 0.420 as the for the new 52 weeks High.
- Bearish Invalidation:
Break below psychological level 0.300 signals the bullish momentum is weakening, suggesting ongoing correction.
0.265 is the last defense for bulls. Breaching this level negates the bullish setup entirely.
4. Summary for Actionable Trade Setup:
a) Bullish Entry:
- EP : 0.275 - 0.290.
- TP : 0.340, 0.360, 0.380, 0.425, 0.500
b) Bearish Bias:
If price breaks 0.290, anticipate a deeper pullback.
A break below 0.265 confirms a reversal for bearish trend.
