Price is fighting with the weekly low, creating a bullish M within the last bearish last bearish push down.
Today we see a bearish correction of the last leg up. In theory this correction could run until the swing low of the B level. Price could even wick below that swing low. We can see trendline liquidity created. It is possible that we will see a sweep of those lows.
Even when we see a bullish reaction to the upside, remember that we are in the corrective phase of a bearish impuls. When the ABC correction is completed, we can still see a more severe bearish correction.
