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$Trader @GDXTrader on x 11.5K followers
Created: 2025-07-19 22:24:02 UTC
$RIG
$RIG printed a piercing line candle on Thursday, signaling potential bullish intent as buyers stepped in to halt the recent decline as ascending support.
However, Friday’s follow-through was lackluster, with a spinning top that failed to close above the highs of the prior two candles—leaving the pivot unconfirmed.
This shows hesitation from the bulls, yet the setup still presents an intriguing risk-reward scenario for those watching closely.
A move above Friday’s high early next week could ignite a bounce and confirm the pivot, shifting momentum in favor of the bulls. If that happens, keep a close eye on the descending resistance trendline, which could act as the next key test for price action.
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