- Trend = bullish
- Phase = 1
- Where the price of the previous week achieved to close above the weekly low and gave us hope for bullish recovery, the price this week tried retesting the A-level of the ABC-correction, but was rejected, closing lower than the previous week.
- The candle of this week was an inside candle, closing within the previous candle wick. The first structure was also retested and respected, showing us possible some first signs of bullish reversal.
- We have to remain cautious. The retesting of the weekly low was an impulsive retest. Price could still choose to make a structural retest and revisit those weekly lows.