Bounced right up at 0.618 fib with bullish divergence on RSI indicating a move up.
-I am expecting a retest at the 200 on the hour. which coincides with 0.5 fib and previous heavy resistance.
That would make a text book head and shoulder pattern inside the bear flag if we breach the neckline.
But you know what they say about head and shoulders at the bottom of a bear trend.
Still in a no trade zone for me. Waiting confirmation.
-I am expecting a retest at the 200 on the hour. which coincides with 0.5 fib and previous heavy resistance.
That would make a text book head and shoulder pattern inside the bear flag if we breach the neckline.
But you know what they say about head and shoulders at the bottom of a bear trend.
Still in a no trade zone for me. Waiting confirmation.