Price action is well within predictable support / resistance regions.
First it hit the ascending long term support (yellow circle), then it bounced off the descending resistance (red circle) ... now at support level (green region).
Two possible scenarios within light blue triangle :
1. re-test descending resistance, possible breakout to the upside
2. break of resistance and drop possibly to lower band of indigo channel.
First it hit the ascending long term support (yellow circle), then it bounced off the descending resistance (red circle) ... now at support level (green region).
Two possible scenarios within light blue triangle :
1. re-test descending resistance, possible breakout to the upside
2. break of resistance and drop possibly to lower band of indigo channel.
