Purple providing support is the same drawn on the chart from yesterday. This pattern is still undecided. I keep getting nervous holding on to this position, but bears have had tons of opportunities. They haven't been able to take out the momentum around $300.
However, they did break the purple with a low candle printed at $295. It bounced back, but still this is the first time for this pattern where a lower low stuck.
I'm watching this so closely. I still think there is some potential for a breakout. The coiling and the slightly modified pattern I drew in green still have potential I think.
If the new pattern breaks I will definitely close.