Kosta Ouzas breaks down the 2024 summer breakout: short liquidations pushed prices into a new trading range, and he expects them to hold at the higher level with occasional dips back down. The move was driven by forced short-covering rather than fundamental shifts.
Look what happened here, for example, when we broke out of the 2024 summer, right. We liquidated all the shorts here, and that put us in a new range. Just like Costa's saying. We might dip back into it a little bit, but we tend to stay at the new level. We don't give it back up. Yeah. So when we get to the top of this one, you know, we might cut into that level a little bit. But typically, we're going to at least stay in this new zone when we get here, so we'll be up here.
