The pink ML has yet to be hit, as the value area from around April 17 held price off for now. Price extended quickly up and found resistance where sellers took control previously. At this point in time it also coincides nicely with the pink UMLH and price action gave us a mini entry signal.
Can reasonably expect price to bounce off this area and test the recent break from the coil down below. Will certainly be looking to move to break even beyond dashed blue line.