1 week ago
3
Key Takeaways
- ARB is retesting former September resistance.
- $0.212 is the first recovery level.
- $0.185 becomes relevant below support.
- Iran risk has pressured the wider market.
- $0.50 matters before Standard Chartered’s $10 call.
ARB has returned to the shelf created by its September rally
The $0.205-$0.208 area capped ARB’s September advance before price broke higher. ARB has now returned to that former resistance range, where the rising diagonal trendline also enters on the daily chart.
ARB is also trading just below the 23.6% Fibonacci retracement near $0.212. That level is now the first recovery point to watch. A daily close back above it would show that buyers have regained the upper part of the former breakout area after the latest decline.
A wick below the diagonal would not settle the chart by itself. Continued daily trading below the $0.205-$0.208 range would weaken the recent structure and shift attention toward the 38.2% Fibonacci retracement near $0.185.
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