It looks like the medium timeframe downtrend is going to continue; it looks like this recent uptrend was the B wave correction in the long term ABC correction to the downside.
At least, if things don't reverse VERY soon. Bears dumped this one in a very aggressive move so we can just as easily see a fugazi reversal back up -- but it seems unlikely.
At least, if things don't reverse VERY soon. Bears dumped this one in a very aggressive move so we can just as easily see a fugazi reversal back up -- but it seems unlikely.