CBHB Approaching Key Demand Zone

Wait 5 sec.

CBHB Approaching Key Demand ZoneCBH Engineering Holding BerhadMYX_DLY:CBHBOrkhestraCBHB is currently trading around RM0.865 after experiencing a significant correction from its recent high near RM1.16. The daily structure has weakened following a market structure shift (MSS), with price continuing to form lower highs and lower lows. Price is now approaching our first buy zone around RM0.83–RM0.85, which aligns with the 61.8% Fibonacci retracement and ascending trendline support. Looking for a potential liquidity sweep or bullish structure formation within this zone before considering an entry. If the first zone fails to hold, the next area of interest sits around RM0.70–RM0.72, aligning with the 88.6% Fibonacci retracement and previous demand area. Both zones offer potential reversal opportunities, but confirmation will be important given the current bearish structure.