This three hour chart shows what is required for a continuation upwards. The price point must stay above the 50 MA (ex shadow tails). For a bullish break it must move above the green trend lines solid or hashed (at least one of them but preferably both. Some indicated buy areas in red circles and selling points in green circles... This idea is based on the previous structure circled on the left side. Of course it may not consolidate this long and could break above the green trend lines on wave cycle tops.
A breakdown below the 50 MA could see a retest of some low price points with the outside potential to strike the 600 range for an absolute bottom. The 1200 seems to have the most demand and bulls are defending this line.
A breakdown below the 50 MA could see a retest of some low price points with the outside potential to strike the 600 range for an absolute bottom. The 1200 seems to have the most demand and bulls are defending this line.