- Price has been moving in a down trend the previous days.
Once price broke past the previous low and closed outside of the , price found support at the .
If you move to the 4 hour time frame it appears that a may be trying to form which will be the catalyst for the move to the upside .
Price will either meet resistance at the previous low which is also the 38.2 fib level or i can see price retracing to the golden area 50.0-61.8 fib level finding support, and possibly transition to a major uptrend.
There also appears to be .