My long term outlook is bullish, however i do feel we need to see a significant pullback before we look to go long. Weekly timeframe price is bouncing around in a channel which could also be forming a bearish flag. Price is reacting well to Fib 61.8% and the MACD has touched the 0... Expecting to see a Pullback. Daily showing a W formation which could see price fall to Mid level 1225 (sitting on 38.2% Fib)
4H Possible bearish flag.
4H Possible bearish flag.