The big picture is still very bearish. But as price got close to next horizontal key support/resistance ard 1237-1240 and Slow Stoch is in oversold on both daily and 4 Hrs time frame, there is some chance we may see a bounce here.
In case the expected spike happens, the retest target will be somewhere between 1265-1275 maximum.
The corrective (counter trend) move could accelerate with a break above 1252-1254, which is the 4 Hrs Kijun sen and also above the top of the cloud on 1 Hr time frame (1 Hr is not shown here)
In case the expected spike happens, the retest target will be somewhere between 1265-1275 maximum.
The corrective (counter trend) move could accelerate with a break above 1252-1254, which is the 4 Hrs Kijun sen and also above the top of the cloud on 1 Hr time frame (1 Hr is not shown here)