A healthy retracement of the latest bull run since 10500 is expected. As you can see on the chart, price is at 61,2% of fibonacci with many wicks below but closed above. This means there were huge demands at this level. Besides, in the 1H timeframe, we can see that there is a bullish divergence forming. It is required that price closes at this level or above to confirm it and it is very likely that it will.
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