The price of TRB has shown a strong bullish reaction after respecting a key level close to $60, driving a new structure of higher lows and marking a clear intent from market participants towards higher levels.
In this scenario, the price behavior suggests an algorithmic narrative that seeks to liquidate short positions and capture liquidity to position itself above $110 in the short term. This is supported by the price action, which has respected areas of institutional interest (Order Blocks) and Fair Value Gaps (FVG), reinforcing the probability of a continued upward movement.
The current structure indicates that any pullback to support levels around $60-$65 may offer entry opportunities in a movement towards the target. The recent breakout confirms the intent to deliver towards previous highs, while a solid close above $70 will continue this bullish outlook.
The immediate targets for this new phase are positioned at $80, $100, and finally $110, where we could observe a significant confrontation between buyers and sellers. Once this last level is reached, it will be key to assess whether the price continues towards $120, which would consolidate a trend change in higher timeframes.
Key narrative:
The price has 'reset' after clearing liquidity at lower levels.
Critical areas: $60 as immediate support and $110 as resistance.
Current bias: Bullish, favoring continuation towards new local highs.
We will be attentive to how the market evolves in the coming days to confirm the strength of this movement.
Daily chart