NEAR is in the bullish trend on the Daily timeframe. Another high of $4.70 was updated on August 5. Now the correction may start in the market.
A pullback buying opportunity will appear after the correction formation on the Daily timeframe. The correction which has just started may form another resistance where the high of August 8 will become its upper border.
The main target for the bullish movement is the resistance level formed on May 30 – June 1. Its borders are $5.96 – $6.22.
Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of July 30 – August 3. The borders of this support are $3.95 – $4.18.
When breaking through the support, the movement potential is limited since the next support is slightly below these levels.
A pullback buying opportunity will appear after the correction formation on the Daily timeframe. The correction which has just started may form another resistance where the high of August 8 will become its upper border.
The main target for the bullish movement is the resistance level formed on May 30 – June 1. Its borders are $5.96 – $6.22.
Long positions will remain relevant until the market is above the nearest support level on the Daily timeframe, the lows of July 30 – August 3. The borders of this support are $3.95 – $4.18.
When breaking through the support, the movement potential is limited since the next support is slightly below these levels.