$SRM re-entred its macro range on Jan 5th after having been in accumulation since October of last year. Currently in an ascending triangle with resistance at $1.84. We haven't had a daily close above $1.84 since September of last year.
I believe we are on the verge of breaking out of this ascending triangle and heading to the middle of the range at $2.30 which is also confluent with a daily supply zone.
Failure of this ascending triangle will lead to a revisit to the range low at $1.41
I believe we are on the verge of breaking out of this ascending triangle and heading to the middle of the range at $2.30 which is also confluent with a daily supply zone.
Failure of this ascending triangle will lead to a revisit to the range low at $1.41