Current price action is attempting to pullback towards the downside breakout of this formation.
Therefore, watch carefully at the next H4 closing which will give more indication about the validation or invalidation
of the trigger level. A failure to reenter in this pattern would open the door for lower level
towards the 33'380 area which coincides roughly with 2 important new support levels, which are :
1) former downtrend resistance line , currently @ 33450 which became a new
2) Mid ( MBB ), currently @ 33'407
and below the most important in this time frame @ 33'144 ( KS )
No change in my expected scenario !
The recovery went higher than initially expected but as already mentioned, the clouds in the daily time frame
will be a very difficult area to break
Have a nice end of the weekend and a wonderful upcoming trading week.
All the best and take care
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