Standard S/R Pullback and rebound.
1) Price has broken Red Resistance now becoming Support. There is also a mini trend at same level.
2) Presumption is that price will go up to Green line Resistance level where profit should be taken.
Risk - The Overall trend is Bearish and price could very well ...
This Chart show a very basic Trend line in green with three connection points acting as support.
It also show a Red resistance line at the top.
Price will bounce for a fourth time of the green trend line towards to top resistance line in red.
This could be the begining of a Trend