A clear break and close above 132.00 key area of monthly resistance now turned support. This month so far, we have tested this area again but rejected it so far with a pin. MAs are facing the upside.
Clear higher highs and higher lows with strong price action tapping off the weekly of 134.00. As price tapped this area without a rejection candle, this gives us confidence that the price action thereafter is a pullback. We have also rejected our blue MA in confluence with 132.00 monthly support.
Again, clear higher highs and higher lows on the daily TF. We have a 3rd TL bounce in confluence with monthly support at 132.00. Today's candle is fairly closing above both MAs signalling a rebound.
Pullback into our preferred fib region bouncing off the 61.8% fib level in direct confluence with the monthly of 132.00. We have finally broken our CTL after a long period of consolidation. The last candle was also a .