We have bounced at 0.5 FIB level, if we break above 7850 we could have a confirmation that we are in the wave 3 (that usually is the longest) so it could be a good opportunity to open a trade.
Disclaimer: not a financial advice
Short Bearish scenario
If we bounce at the resistance created from the trendline at the previous top at 8.600 we could fall to test again the previous trendline at 7200 area.
Disclaimer: not a financial advice
Short Bearish scenario
If we bounce at the resistance created from the trendline at the previous top at 8.600 we could fall to test again the previous trendline at 7200 area.