I see also a very likely possibility of a FAKE OUT coming to trap some LONGS around the 6.900 Area. Similar to the Fake Break Down we saw priorly this week. If we do break 6.900 I would consider a LONG depending of how we hold above it. The 2018 worries me after the 6.900 level.
On the down side, a break down for the flag seems more likely to me. What worries me in that scenario is that the amount of SHORTS that we saw trapped on the Fake Break Down might want to re-enter (if closed already) on a break of support around 6.300 and if the price keeps going down, there might be even more SHORTS opening on the way down. IF SHORTS go all the way up to way over All Time High levels, I think that will trigger a price reversal to trap those SHORTS and that will prevent the target to be reached.