is trading sideways on the 1H chart ( RSI
= 47.613, MACD
= -0.080, ADX
= 28.589) as it is consolidating on the 19.20 Support. The MACD
on the 4H chart just made a bullish
cross and if the sequence of March 31 is repeated then we can have a rebound towards the 29.20 Resistance. That would however break the 4H MA200 (orange trend line
) which hasn't been testes since January 10th and if broken would be a sign of stabilization and recovery for the market. So until then it is best to target the Lower High trend line
of the Descending Triangle
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