I have started to get a good handle with formations or the story line with price action.
Hence I see this as a re-accumulation range as it has the hallmarks of a bullish story.
a) Formation is taking place above the previous high level b) The story from ATH to accumulation to re-accumulation is the model well known. c) Fib levels align d) I have this fractal below to support my theory of where its taking place supports a very bullish market.