A lot of people holding longs just flatly gave up right at the bottom of yesterday's candle. The volume was also the highest since this whole downmove started. Could we be looking at the bottom then? That is a possibility i cannot rule out. But we do have many hurdles to watch out for.
Resistances to break to make the bullish case are
1. 7500 2. The 1H EMA 200 ~ 7800 3. 8000 4. The 4H EMA 200 ~ 8800 5. The Daily EMA 200 ~ 8900 6. 9000
Once these are broken we will have confirmed the bullish case. Until then we treat this upmove as a correction.
Will post any trades i make in this thread so things are kept neat.