There are a cluster of lows around this area so price will most probably want to take out the lowest low before going higher.
This is due to traders stops being positioned under these lows so eventually the market will gravitate to these and take them out and possibly go lower to shake off retail traders, they can only "buy the dip" so many times before their account gets blown and they give up.
Thats when the market will go higher
This is due to traders stops being positioned under these lows so eventually the market will gravitate to these and take them out and possibly go lower to shake off retail traders, they can only "buy the dip" so many times before their account gets blown and they give up.
Thats when the market will go higher