Agreed that the prior lows are now definitely coming into play. 5.75 is important not to retest further downward. When one adds the market structure (VbP) there is potential for accelerating weakness if 5.75 fails as support. Confirmation prices of such would bring 5.47 and 4.90 strongly into play whereas now they are only possibilities. This current VbP bar is the strongest support on the daily chart. Which means, if it fails to hold, it will be very strong resistance without substantial positive news to push back through.
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