On the above daily chart price action has corrected almost 70%. Now is a good moment to be long (as is with most but not all). Why long?

1) The ‘incredible buy’ signal prints.

2) The monthly chart (below and green lines above) is showing price action approaching significant levels of support and resistance . There is no confirmation at this time past resistance will be support however it a Fib level.

3) The green lines are also the 0.38 golden ratio.

4) Bullish divergence . 7 oscillators are currently printing bullish divergence over a week long period.

Is it possible price action falls further? Absolutely.

Is it probable? No.

Good luck!

Ww

Monthly chart