After the virus dip, we got a bounce as expected. Now that bounce wave is at a crucial decision point. Thus far it looks more "corrective" than "impulsive".
The dip itself was two strong waves, posted in this Idea. We saw a parabolic 1st wave, and a linear 2nd wave. IF we are to have a 3rd, HERE would be a good start.
So far the C wave is progressing EXACTLY as plotted Big of a relief bounce just now, but up against previous support.
.
Zoomed IN (5 min) for a closer look Right up against the lower bound of previous support. NOW is the crucial moment: - either get above this zone and flip back to support, - or this zone will become serious resistance if rejected from here.