I reckon if the price will rise back around the weekly pivot point level and then break through it with good momentum it might be a good plan to risk on short term bull bias. If Price rises back upward harder and then breach through the weekly pivot point (blue zone) we can expect from price aftermath head around R1 (red zone).
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Bounce from the S1 and breached through the blue zone. If this zone act as support then the price may prolly chase the red zone.