Restablishing a Bullish argumentation
Descending Wedge Pattern starting last 06/28/2014 "IS LONG OVERDUE" for a break to the upside.
This is the best alignment yet for a bullish breakout.
TA:
1. Bullish Divergence in RSI (Weekly)
2. Completion of Bearish Cypher Pattern 1,307s (0.786 Fib. of the last down trend) hints for another run Higher.
3. 0.618 Fib. Retracement aligns with strong bullish support established 11/07/2014 (Red dashed line)
4. A Possible Bearish Butterfly Pattern Completion (as projected in Blue) along with a retest of Structure (Resistance turned Support, Yellow dashed line)
targeting 0.50 Fib. retracement and again the Red Support Line.
5. Elliot Wave completion
This is the best alignment yet for a bullish breakout.
TA:
1. Bullish Divergence in RSI (Weekly)
2. Completion of Bearish Cypher Pattern 1,307s (0.786 Fib. of the last down trend) hints for another run Higher.
3. 0.618 Fib. Retracement aligns with strong bullish support established 11/07/2014 (Red dashed line)
4. A Possible Bearish Butterfly Pattern Completion (as projected in Blue) along with a retest of Structure (Resistance turned Support, Yellow dashed line)
targeting 0.50 Fib. retracement and again the Red Support Line.
5. Elliot Wave completion
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