We have reached a hidden bottom characterized by the 1.27 retracement of the rise from the October 2022 low. It marked a support level from June to October 2023 and had served as a resistance from November 2022 to June 2023. This long term relevance makes it interesting today again.
If this possible valid support level will result in a bottom building we may see a reversal of the downtrend.
If this possible valid support level will result in a bottom building we may see a reversal of the downtrend.
Trade closed: stop reached