Price has breached a key support. what it does on a revisit would be crucial intel. Let's wait.
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Notice how price came back to retest the Magenta line today. This was a scenario highlighted in the update that was posted 3-days ago.
I mentioned: "that level would offer an entry opportunity one way or the other" and have a look at the updated chart below. Price bounced off that line today.
I mentioned: "that level would offer an entry opportunity one way or the other" and have a look at the updated chart below. Price bounced off that line today.
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The green line at 8,730-ish level is the one to focus now. A breakout via a green WRB (wide ranged bar) would be a sign of strength and could open up a rally to 8,837-ish level.
A failure or a selling tail candle at 8,730 would have bearish implications.
A failure or a selling tail candle at 8,730 would have bearish implications.
Note how we zoomed today past the middle magenta line at 8680-odd level. I would prefer a retest of that zone. But that is not a compulsion. But mark that level as it would offer an entry one way or the other pretty soon.