sold off. Currently it has broken the intraday that goes
back to the 11490 high on March 5. We see that the break lacks
momentum and was quickly sold off and a retest of the
is in place. This is also forming a .
If price breaks lower and close below the triangle and returns back
below the , we are likely to see another wave down. If price
breaks above the triangle and takes out the high at 7150 and
also the top at 7500 we will likely see a move to the yet untraded
Monthly pp at 8400. Still, since the trend remains on
the H4 timeframe bias is to the downside.