60 min chart 8.02.11
Price fell below yesterday's low and has crossed the Orange major Lower Median line parallel at EOD. If price is supported here then tommorrow,market should indicate with a reversal signal bar / price action should move up.
Probability 1:Touches 5288 levels which is close to 161.8 % of previous minor upswing in the morning hour and then moves up.This would be a positive sign.If not ?
Probability 2:Price moves downwards and can reach 5250 levels near to the Magenta pitchfork LML.Further down the targets are 5140 - 261.8 % R level, and then at 5100 at Yellow LML.
As indicators are oversold for the past few days, the bottom is difficult to be pinned down.Will watch out for the LML supports.