Price testing the 0.618 FIB level from the last impulse run-up.
Potential double bottom on the 1 hr is evident,
Price may go a little lower to test the Bigger picture double bottom neckline.
Retracement leg has 5 Eliotte waves evident,
Looking for price action to consolidate in the yellow box and provide an entry long trigger.
Fundamental and sentiment:
Price action may be sensitive to headlines about Omicron and general global COVID restrictions.
Potential double bottom on the 1 hr is evident,
Price may go a little lower to test the Bigger picture double bottom neckline.
Retracement leg has 5 Eliotte waves evident,
Looking for price action to consolidate in the yellow box and provide an entry long trigger.
Fundamental and sentiment:
Price action may be sensitive to headlines about Omicron and general global COVID restrictions.