I am just a chart hack so take what you will from this.. :). Just by looking at this chart with some fib circles..we can see there will be some reactive areas ahead. I would assume we will most likely get pushed down to test the box. Depending on what happen there..we will either begin our journey upwards or continue down to test lower lows.. 4hr cci is still saying to stay out as i write this..
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We could also be pushed down to the red trend line and then slide up as well..It looks like an area of volatility ..up or down..perhaps depending one where we enter the area that the arrows highlight.
Last RSI at these levels always took it to the top of the channel or a 1k bounce.. This is just bounced from the bottom.. We shall see..
smallfries
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@alienteck, It's getting very close to that now..CCI is still under ice on the 4hr shown..so that has always been my best indicator..as rsi can sometimes fake us chart hacksout.. :)