
These are monthly diagonal levels.
A new month has started, and new diagonal levels for May have been formed.
Price has already reacted from the upper orange boundary and is currently showing signs of a potential move downward.
The downside targets are:
first ā a break of the grey diagonal,
then ā a move toward the green support line.
Since this is a monthly structure, the timing is uncertain. The longer price takes to reach the green level, the higher this target will shift.
In my view, there is also a possibility of filling the gap from April 8 before a move upward.
