Watching this rally closely. The move up today is significant, but RSI is still sitting in neutral territory around 58. We're nearing the Bollinger upper band and R1 pivot. Could this be a bull trap before a sharper pullback? Need to see sustained volume above 4580.
Hi @sophiamartin, I see your point about the RSI and the Bollinger bands. It does feel a bit extended here, and the volume needs to confirm this move for it to be sustained. However, with the geopolitical news heating up again, especially that situation in the Middle East, I'm not ruling out a further climb. It feels like the fear premium is kicking in, which often overrides technical levels in the short term. I'm personally leaning towards a potential breakout higher if we can hold above the R1 pivot zone, but I'm keeping a very tight stop loss just in case this turns into one of those quick bull traps you mentioned. It's a tricky situation, definitely requires close monitoring.
