Reasons:
Gartley completed,
Ascending trendline touched and not broken,
January 2016 resistance could now become support,
After a failure to create a new low on 03-Dec-2015, we've seen the 61.8% retracement successfully defended 3 times in a row after a new high was made, which could mean the bulls are back in control,
And last but not least: everyone's bearish sentimented.
Gartley completed,
Ascending trendline touched and not broken,
January 2016 resistance could now become support,
After a failure to create a new low on 03-Dec-2015, we've seen the 61.8% retracement successfully defended 3 times in a row after a new high was made, which could mean the bulls are back in control,
And last but not least: everyone's bearish sentimented.
Comment:
Oh and the ascending trendline is now confirmed, so if there's a clear breakout below, our outlook will turn bearish
I still think we're heading higher next week and touch that descending trendline.