Market SituationAn initial bullish move with a proper pullback to the broken descending trendline seems to have started a new ascending abc pattern.
OutlookWith first leg already finished, price has not turned into a ranging activity instead of losing momentum which resembles a reaccumulation phase that CAN follow with one more bullish similar push.
Key Level The highlighted zone is where we expect the reaccumulation phase to finally finish and new leg begin. If this zone does not hold price properly and is fully lost, the pattern has failed.
