On the daily timeframe market is testing a historically strong support zone after forming this bearish impulse, after a impulse you expect the market to make a correction also on the daily you can see market has formed this nice M formation in which we expect to complete at the neckline giving us our upside target. At the moment on lower timeframes everything is still bearish we are waiting for new bullish structure to form before looking for a long.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.