According to the external analysis, PENDLE had fallen by over 10 per cent at the time of the current round of transactions. However, market participation did not simultaneously cool, and the turnover rose to about $36.9 million, an increase of about 20 per cent over the previous period. This indicates that the funds are still active in the field, but short-line ownership remains in the seller ' s hands.

The purchase was not absent. According to the article, PENDLE continued to fall, but the new demand did not immediately drive the price up, but was being digested by the higher up. Markets are thus divided: transactions are not less dynamic, but not in a uniform direction.

US$ 1.16 remains the supporting position

In terms of price structure, PENDLE ' s recent backwardness remains relatively clear, and is currently operating mainly above the US$ 1.16 support. Many of these were taken over in the vicinity of this location, and a further round was temporarily avoided.

However, every time a rebound approaches the upper zone, its strength is decreasing and the resistance near the US$ 1.40 has not been re-introduced. According to the article, the gradual downsliding of this rebound is an indication of a decrease in short-term perceptions.

MCD still shows the advantage of empty

On the technical side, the MCD column chart remains in negative range, and the MCD line continues to be below the signal line. According to the article, this indicates that during the recent round of fluctuations, empty pressures have not been significantly reduced.

If US$ 1.16 continues to hold, PENDLE still has the opportunity to retest the area of US$ 1.40; but if this support fails, the seller may re-expand the advantage and the lower price space will be opened.

1.40 to 1.50 United States dollars settlement area of concern

At the same time, it was mentioned that the liquidation heat sought to show that there was a more concentrated leverage position at the top of the current price and that the most obvious area of liquidity was between $1.40 and $1.50. As this zone has a greater potential liquidity position, once the purchase is re-encumbered, prices may be attracted to the region.

  • The turnover is about $36.9 million, an increase of about 20 per cent per day.
  • Key support position near $1.16.
  • Focused liquidity area above is 1.40 to $1.50

Overall, the central judgement of the article is that PENDLE is not short of the current level of trade activity, but that the problem is that the purchase is not overstretched. The improvement of the short-line movement remains dependent on the continued viability of the support around $1.16.