In simple terms, the two-hour line has now dropped to the bottom. However, we have previously suffered losses by trying to bottom out, so this time the support level at 115,000 may not hold.
Under normal circumstances, we should wait for the four-hour line to drop to the lower track before rebounding, and then see if it can make a new high. If the rebound on the four-hour line is weak, then we will need to look at a twelve-hour level correction, and next time we should target around 110,000.
