Zooming out for a bigger picture it can be seen that a larger supply swing cycle is control. The most recent upswing(corrective leg) suggested that demand might now be in control but supply has clearly come back and an impulse leg is now in play. Having said this price has not exceeded the low where demand could still exist. Once price clearly takes out the low then the current downswing (impulse) will be complete. This in my mind signals that selling at visually appealing supply areas is reasonable.
Coming in for a closer look the evidence of supply hopefully is clear as the notations on the chart depict. The visually appealing supply areas are marked.
Coming in for a closer look the evidence of supply hopefully is clear as the notations on the chart depict. The visually appealing supply areas are marked.