We have an range bound market at the moment. Market has broken out of it and failed to go higher, then we had an facet at the range lows, and retraced up to 61,8% creating potential ABCD pattern at the high of the range. Around D I will be looking intraday seller failure
Comment:
We are reaching buy zone now, but we have to keep in mind that price can go all the way down to $38 area and maybe even lower, so let's wait for a clear signal.