Looking at 4h chart we can observe how the trend is taking the shape of a rising head and shoulders
pattern. The right sholder is not very clear, but you can observe a similiar shape also on MACD
signal line. The oversold crossover on MACD
shows the bottom, the second crossover the right shoulder and in the same way the head and the right shoulder. In this uptrend the signal line reached a peak and now it's losing strenght (the same on RSI
). At the moment it seems to have too little strenght to breakout the neckline, so it's possible to see some sideways. If the breakout will occur i'm looking to the 0.5 fib line as a possible target. If the bulls take the concrol of the market it's possible to break the 415 level.
Good luck for your trading