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After the sharp decline on the 22nd, the pair spent two days attempting to consolidate above the daily chart's balance line. While those initial attempts were not immediately successful, they helped prepare the price for today's breakout, as the day opened already close to this line and showed optimism (rising from the session's start).
However, there is one hindering factor—the Marlin oscillator has not yet entered positive territory. The growth will likely be fully established only tomorrow. The target at 149.38 (the peak from August 15, 2024) will then open up. After that, the target range of 151.70–152.10 comes into view.
The situation on the four-hour timeframe is more optimistic. After reversing from the support of the MACD line, the price is now moving above the balance line. At the same time, the Marlin oscillator has surged into positive territory, setting the stage for potential growth already today. Now, only a breakout above the highs of the previous two days is needed.
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