Looking at the 1 hour chart considering the week we've had it's hard not to be a little bullish. At least in the short term.
I expect if we can break above the orange 55 SMA be might see a little rally up to the $9200 area which is where the bottom of the green rectangle indicating prior turning points meets the 0.382 retrace from this weeks correction...
After that we'll need to re-evaluate.
Invalidation point is the break of the curved line which is currently lining up with my parabolic SAR
I expect if we can break above the orange 55 SMA be might see a little rally up to the $9200 area which is where the bottom of the green rectangle indicating prior turning points meets the 0.382 retrace from this weeks correction...
After that we'll need to re-evaluate.
Invalidation point is the break of the curved line which is currently lining up with my parabolic SAR
Comment:
Slightly longer timeframe:
