$SANTOS is around 1.13 right now, up more than 10% today, but the chart tells a deeper story. It pushed up to 1.163, showed strength, and then quickly pulled back. Since then, price has been moving in a messy, choppy way.
That kind of movement means there’s a fight happening.
Buyers tried to take control, but sellers didn’t step away. Every push up is getting challenged, and every drop is getting bought. This is not a clean trend, it’s a battle zone.
Right now, the 1.12 area is acting like short-term support. As long as price stays above it, there’s still a chance for another move up. But the real level to watch is 1.16. That’s where the last rejection happened.
If SANTOS breaks above that cleanly, things could get interesting very fast.
But if it keeps failing there, this could turn into a slow sideways phase instead of a strong rally.
This is one of those charts where patience is more important than speed. Jumping in the middle of this kind of movement can easily trap you.
Let the market choose direction first.
Sometimes the smartest move is to wait until the fight is over.
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