📊 $SHELL Analysis: Volatility at Local Resistance
SHELL is currently trading at $0.0512, down -17.55% as it consolidates after a massive spike to $0.0673. The price is currently fighting to hold above the EMA(99) at $0.0504.
📉 Technical View:
Trend: The price is trading just below EMA(7) ($0.0520) and EMA(25) ($0.0515), which are acting as immediate overhead resistance.
Momentum: RSI(6) is at 45.27, showing a neutral to slightly bearish bias as the initial pump cools off.
📈 Long Setup (Bounce Play):
Entry Range: $0.0505 – $0.0512 (Near EMA 99 support).
Targets: $0.0568, $0.0632, $0.0673.
Stop Loss: $0.0480.
📉 Short Setup (Breakdown Play):
Entry: Breakdown below $0.0500 with high volume.
Targets: $0.0449, $0.0404.
Stop Loss: Above $0.0535.