AMD Approaching Key Supply Zone – Rejection or Breakout?

📌 Thesis:
AMD is approaching a critical 1D supply zone ($122–$130) with bearish RSI divergence, suggesting possible short-term exhaustion.

🔍 Technical Overview:
✅ Structure: Bullish recovery confirmed with Break of Structure (BoS).
📈 Price Action: Higher highs into known supply zone.
📉 RSI: Forming lower highs, showing classic bearish divergence — a common warning signal near key resistance.
🧭 MACD: Still positive, but momentum is slowing.
📊 Volume: Healthy, but not confirming a breakout (yet).

📌 Base Case (Bias):
Rejection from supply zone is likely, given weakening momentum. Watch for bearish reversal candles around $122–$130.

If rejection confirms:
🎯 First target: EMA cluster ($116).
🛑 Invalidation: Clean breakout above $130 with volume.

🔁 Alternate Scenario:
If AMD breaks and holds above $130, divergence is invalidated.
Next upside target: $140–$150 (previous resistance zone).

✅ Trade Plan:
🔹 Short setup: Bearish rejection + divergence confirmation at supply zone.
🔹 Long setup: Breakout + retest of supply zone turned support.

Conclusion:
This is a technical inflection point for AMD. Price action in the coming sessions will likely define the short-term direction. Trade the setup, not the prediction.