4.9 The rebound has just begun 1. From the daily chart, after a breakout with volume, yesterday showed a consolidation with reduced volume. On the hourly chart, a bullish trend is already forming, with moving averages in a bullish alignment, higher highs and higher lows, and continuous breakthroughs of previous downtrend highs. All signs indicate that the rebound has just started. 2. Even though Iran has once again closed the Strait of Hormuz, the large-scale rebound that has been building up for 2 months won’t end so quickly. News never changes trends; it’s only used to align with them.