The last bullish push up ended exactly on the fib level-0.27, indicating that there might be a correction of the bullish to be expected.
Before the last bullish impuls price made a bearish dip, creating the foundation of an inverse head and shoulder pattern. Shoulder 1 and head are already printed. We can expect the shoulder 2 to be printed.
This month was a very volatile month, with a liquidity grab of the high and a retest of the first structure, ending the month with an indicision candle. Price keeps ranging between the two monthly levels of 108.246 $ and 115.764 $
We can still see a retest of the highs and then see a bearish correction, initiating an ABC correction of the bullish impulse. Taking the fib retracement of the last bullish impulse, puts the shoulderlevel in the golden zone between fib 0.618 and 0.786.
