Looking at the key level which is identified by the red circles for now have created a neckline for a potential inverse macro H&S. We have the 20 and 50 daily ma as support and the orange 200 daily coming in as well.
Note how the MA's crossed over for a bullish signal.
The structure taking place looks a macro bullish continuation pattern. I see this structure as a RE-ACCUMULATION structure and not distribution.
Key levels are clear as per my chart.
I will do the targets after the fact.
All the best,
S.Sari
Note how the moving averages before this trend started crossed over as confirmation. We just got it again.