We have hit that 320 supply zone, so we're due for a breather...
I have identified this to be a demand zone of interest for the following reasons.
1) On the 4-hour, it follows a a rally base drop and a drop-base-rally.
2) On the daily, you can clearly see that this was an area where there had been prior supply. (Prior supply sometimes becomes future demand)
3) On the weekly, the demand zone starts almost exactly at the beginning of the last bullish candlestick.
I have identified this to be a demand zone of interest for the following reasons.
1) On the 4-hour, it follows a a rally base drop and a drop-base-rally.
2) On the daily, you can clearly see that this was an area where there had been prior supply. (Prior supply sometimes becomes future demand)
3) On the weekly, the demand zone starts almost exactly at the beginning of the last bullish candlestick.