Price Reaction To Support Levels
2024-08-26

The price of FIL is currently within the $3.86 to $4.00 support range. This range acts as a crucial area to support the price and may prevent further declines. If the price stabilizes within this range, an upward movement towards higher levels could be expected.

 Potential Scenarios: 

 Maintaining Support and Moving Upwards: 
If the price holds within the $3.86 to $4.00 range and stabilizes, there is a possibility of rising towards the $4.20 and $4.40 targets. These resistance levels could act as short-term price objectives.
 Breaking Support and Continuing the Downtrend: 
If the price fails to maintain this support range and drops below $3.86, selling pressure may increase, leading to a move towards lower levels. This scenario would indicate buyer weakness and strengthen sellers in the market.