How that fits into the larger degree is VERY debatable.
However, extremely overlapping price action suggests
the probabilities lie with one more upside swing before
the larger downward trend resumes.
For now, a clear long entry trigger from the
would build a little confidence and define the lowest risk.
Not that eager to try for a long, especially on an FOMC day,
but, I'm already salivating for the short should it materialize.
waiting for a better price. In any event lower prices from here
would cloud the labeling for a buy opportunity and increase
the probabilities of a break below the trend line. Thus, I'm only
looking for the sell side should prices reach 137.65 area.