This led to a situation wher ite was possible to update the and its second reflection set at the 9th of May lows at 1214.17. Currently after rebounding from key resistance at 1295 price once again reached the which was tested yesterday.
Today we see a slight rebound but all the time trade is taking place in the range of yesterday’s session. One of scenarios points to a third reflection from the . Then, after breaking the local resistance near 1260.00, it would increase probability of another attack on this year’s high at 1295.00.
In case of breaking the , its continuation will be questionable. However, to be able to talk about change to we need to meet several conditions for example such as seting lower lows and lower highs.