Price rallied after the retest of the 38.2% retracement level and now is trying to take out the dynamic resistance from the fourth warning line (wl4). Will climb much higher if will stabilize above the warning line, but I want to remind you that failure will signal a major drop. Has found strong support at the red downtrend line and now is fighting hard to recover. We had a false breakdown below the 38.2% retracement level, meaning that an increase towards the 23.6% is favored. Technically, is expected to retest also the third warning line (WL3) before will make the next significant move.
