TLG Chart, page-2356

First tag of the monthly support last week and heading for further testing today.



Couple of difference scenarios below this could play out.

Base case - think we're likely in for some sideways chop and consolidation, testing the range lows at some point, would see quite a high level of rotation forming the base for the next leg higher when news catalysts are ready.




Bullish case - we see $1.35 hold, a push to the range high, some resistance before a break and weekly close above $1.63. In this scenario the price finds good support in the midrange and tends to occupy the top half of the range.

Bearish in red, likely coinciding with a larger market drawdown and very high volatility in US, we'd lose $1.35, test the range low and eventually lose that to go and retest previous high.