ARB Price Tests Support After Sharp Pullback

The price of ARB has retreated from the $0.23 area, and is now testing support after a sharp pullback.

This decline comes after ARB rose sharply from the 0.13-0.15 region in mid-September, creating a sequence of higher highs and higher lows.

The rising channel remains important for the broader recovery, but the recent decline has put pressure on the former breakout zone around $0.20.

The chart shows repeated rejection near the 0.23-0.24 region, with each rebound becoming weaker before another downward move developed.