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Is the $95Okay–$97Okay liquidation wall the only thing holding back the subsequent move?

After a big worth drop, the market has entered a quiet consolidation part. Worth motion is coiling tightly slightly below what appears to be a serious overhead resistance zone, leaving merchants to take a position on the course of the subsequent decisive break.

The important thing degree to observe is the huge liquidation cluster sitting between $95Okay and $97Okay. This area represents a dense pool of liquidity the place a big volume of brief positions can be liquidated if worth pushes greater. While such zones typically act as a magnet for worth, additionally they serve as formidable resistance.

Is that this overhead liquidity a goal that may gasoline the subsequent leg up by squeezing shorts, or is it a ceiling that may reject worth and lead to further draw back?

#MarketAnalysis #Liquidity #TradingStrategy