In the 1 hour chart, a long lower shadow candle forms followed by the green candles, this signals the end of bearish sentiment and upcoming bullish momentum. This can also be confirmed by the Parabolic SAR and Macd. ADX also shows that the decline from 350 levels was a very weak directional move. Fibonacci retracements dictate a stop loss at 331.35 levels and an initial target of 360 after which if the momentum continues, the price could go up to 390 levels.