First of all , monthly resistance has been broken last month by a bullish candle with a long wick at the bottom ( buying pressure)
Secondly , on the weekly timeframe, price printed last week a big bullish candle with small wick at the top indication the small bearish candle that retested the broken daily resistance turned support on the daily timeframe.
Finally, on the daily timeframe , yesterday price printed a bullish pin bar ( small ) after a bearish candle with a significant wick at the top ( price has retested the support as mentioned earlier) .
Price is rejecting the fibonacci level , plus all EMAS are aligning bullish , and so is ichimoku .
So a bullish position is taken .
Secondly , on the weekly timeframe, price printed last week a big bullish candle with small wick at the top indication the small bearish candle that retested the broken daily resistance turned support on the daily timeframe.
Finally, on the daily timeframe , yesterday price printed a bullish pin bar ( small ) after a bearish candle with a significant wick at the top ( price has retested the support as mentioned earlier) .
Price is rejecting the fibonacci level , plus all EMAS are aligning bullish , and so is ichimoku .
So a bullish position is taken .