$SHELL is stabilizing after the sharp impulse from the 0.0477 low and is now consolidating just above the 0.0500 area. I’m watching this closely because buyers stepped in aggressively at the reaction zone and quickly flipped structure back in their favor.
On the 1h chart the strong expansion candle shows clear demand after sell side exhaustion. Since then price has been holding above the reclaimed base with tight candles which signals absorption rather than distribution. As long as this consolidation holds momentum stays constructive.
Here my full setup from this chart.
Entry Point
0.0505 – 0.0499
Target Point
TP1: 0.0520
TP2: 0.0532
TP3: 0.0545
Stop Loss
0.0476
It’s possible because every dip near the 0.0495–0.0500 zone is getting absorbed quickly and sellers are failing to push price back below the breakout level. If SHELL holds above the support zone a clean move toward 0.0520 becomes the natural first step before momentum attempts further continuation.
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