It looks as though 38.2% retracement
from the swing high is an area of high interest and support/resistance
. After the initial dip, price tested this resistance level
three times. It appears to be coming back down to it to test it as support, and if support holds, could be the beginning of an upwards move. If support fails, we could see retesting of the next two fib levels. Buy pressure seems to be mounting but more volume
will be needed if an upward move is to be sustained.