Looking back to the Mar 21' and May 21' pull backs. We had similar price patterns that resolved to the up side. If the #3 pivot can hold above the #2 pivot we may see the explosive move. If the #2 pivot is broken to the down side a deeper pull back would be expected.
Note
Coming into the key 15000 level. The bullish scenario now looks possible. Watch for rejection at the 15000 level and then the downward trend line in this chart.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.