Price action lovers must be watching it like a hawk but we have lot of things to understand. Let's try to understand few... 1. Price action is showing that it has stopped making new lows. 2. Made a W Pattern already(We just need to wait for the neck line break). 3. Taking support at 200 EMA with gap also acting as support. 4. Volumes ? dont forget to look at the towers marked in circle. 1 Question for everyone who generated those volumes? You? Me? someone big? 6. Trendline break with confirmation is necessary. Levels will be plotted on chart.