Inverted head and shoulders pattern. Bullish on the Fib re-tracement zones leading back into the bear patch. If we can break the neck. We're away... Go Bulls!!!
Comment:
So, although we retraced back down to the 50% fib line, we didn’t break our 80/40 on the RSI which to me indicated that the bulls are using the 40 line on the RSI as support and rallying off of it. If we broke the 40 line and crossed into the 60/20 bear zone, we would have seen this on the RSI so I guess we will see this consolidating for a bit longer, but I still believe we are in a good position, just have to wait and see how this one plays out.