Price appears to be turning upwards and has created an inverse head and shoulders. This, though, without having reached the 23,800 level which I identified as a possible completion of an ABC correction. In addition, price hasn't broken out of this recently formed channel and is also at resistance on the 4 hour chart and is testing the 200 dma. Unless price breaks these levels, I will trade short, bearing in mind this fresh channel and will remain vigilant for possible moves beyond the channel, either to the upside or the downside.
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