From a higher-timeframe perspective, 278–318 is the key area that matters. This zone was the origin of the move that pushed price up into the 604–675 area, where the larger selloff began. Because of that, this level carries real weight in terms of structure.
Price has since retraced back into that higher-timeframe demand and is now starting to stabilize. After tapping that zone, price formed a higher area of support, which suggests buyers are beginning to show up again rather than letting price slide lower.
With near-term resistance already worked through, the path higher looks relatively open if buyers continue to defend current levels. The focus here isn’t chasing upside, but watching how price behaves on pullbacks and whether demand continues to hold.
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