$MERL showing solid momentum near 0.02766 after a +6.30% move 📈 The setup still looks constructive, but buyers now need to defend the 0.0265–0.0272 zone to maintain control. A breakout above 0.0290 could open the door for a stronger continuation move. 📊 Key Levels: • Watch Zone: 0.0265–0.0280 • Support: 0.0255 • Resistance: 0.0290 🎯 Targets: TG1: 0.0298 TG2: 0.0310 TG3: 0.0330 🛑 Stop Loss: 0.0244 ⚠️ Invalidation: Below 0.0240 Since $MERL is already extended green, the cleaner setup may come from either: • support holding on a pullback, or • confirmed breakout continuation above resistance. Strong movers usually prove themselves by holding the first dip instead of fading immediately 👀 Would you chase the breakout above 0.0290 or wait for 0.0270 support confirmation first? #ICEBacksOKXOilPerps #RateHikeRepricing