Multi-Month Resistance in Focus
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I’ve been watching this on a multi-month P&F (3% box), and the 425–430 zone has clearly acted like a strong resistance for a long time. Every time price reached there, it got rejected, which shows consistent supply at that level.
But what’s interesting is that after multiple tests, price is now starting to push above it. In technical analysis, there’s a common idea that when a level is tested repeatedly, it can weaken over time because sellers get absorbed.
Now the key thing is whether this breakout holds and follows through, or if it turns into another rejection. If it sustains above the zone, it likely means the resistance has finally turned into support.