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Correction lows appear close to highs but breakouts follow consolidation, Patrick Karim notes

Correction lows appear close to highs but breakouts follow consolidation, Patrick Karim notes
Correction lows and breakouts timing

Patrick Karim observes that correction lows are frequently found close to market highs. However, he notes that the true breakout, which results in surpassing previous highs, typically occurs after a longer period of consolidation. Karim suggests considering other assets that are currently experiencing breakouts, rather than focusing solely on those in consolidation.

Karim has previously examined how crude oil and silver display contrasting short-term price movements but share similar long-term trends in recent analysis. He also reported renewed momentum in major oil sector stocks, including setups driving Shell shares in earlier commentary. These observations follow his ongoing focus on shifts in asset momentum across sectors.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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