Big picture looks weak, however this looks like a good spot for...

Big picture looks weak, however this looks like a good spot for a bounce

Price is near a 50% retracement from October lows, which is also around VWAP taken from the same lows( pink line). Trade based on this current month is  approaching 3STD below monthly VWAP( 3STD being the darkest blue area on the chart)- this is a typical reversal point.

On the right hand side is a composite market profile, which takes into account all the trade from the October lows. As you can see hardly any trade has taken place around the current price, relative to recent price action. So this area contains LVNs( low volume nodes).LVN's are areas that price has rejected in the past and often become key reversal points in the future. .