At present, it seems that the hourly chart has temporarily stopped falling, the four-hour chart shows initial signs of a halt in the decline, and the daily chart has formed a pin bar; whether the decline has indeed stopped needs verification.

From the daily chart perspective, a new low has broken the low of March 31, and it is clear that the right shoulder we previously saw has failed. We need to wait for a new 'suspected' right shoulder bottoming point to form.

Although there are short-term signals indicating a stop in the decline, it is still crucial to consider the impact of macro factors. The employment data on Friday and Powell's speech are the last key points of this week.

To be honest, I don't think the current daily chart movement reflects a right shoulder formation.

Let's wait and see!