We can see here on the 4hr chart how the recent bullish breakout has reached the exact same height we reached on January 19th of 9190 before retracing opening up the possibilities here for both a cup and handle(bullish) or a double top(bearish. Currently I think the cup and handle has a higher probability of occurring. I anticipate that we will probably retrace to around 8.5k to fill the cme future gap before rebounding here. We could go lower but I'm not worried about a double top unless we find a way to break below the descending pink trendline. I am anticipating that the 1 day 200ma will not hold support but if it does there's still a chance we could continue upward although currently not very probable until a correction occurs. Let's remember last time we closed above the 1 day 200 we almost closed 14 1day candles above it and still managed to break below it...so unless I see a ton of bullish volume and a huge spike in price action to go with it, I wont be convinced the 1 day 200ma is going to hold support until we've closed 2 consecutive weekly candles above it.