The green arrows show multiple lows at or beneath 1300 without a single close beneath that level. Should CMG drop back to 1300, it would likely print a very strong positive divergence, which could coincide with a major bottom. You can see that the PPO is now much higher than it was just a few weeks ago. Should 1300 price support be violated, the next key support level would be just beneath 1200 - the double bottom that printed in September and
November of 2020.
Happy trading!
