Good morning everybody. I am watching the hourly chart again today and the bulls got lazy over the last 5 hours and we fell. Now we are below the cloud and the 50 MA along with being under the 200 MA as well. All of these signals are bearish in nature. Of course on a bigger time frame these swings are barely noticeable. We seem to be in consolidation and as a result the 50 MA and the cloud are tangled up with the candles due to all the sideways action and the 50 MA keeps jumping back and forth between support and resistance. The Bolinger bands are still tight on the 1 day time frame so I am still expecting a decent move very soon. I think I had my head in the clouds yesterday when we muscled our way above the cloud and the 50 MA but it didnt take long to fall back below. I see some support around 7100 - 7150 and that seems to be where we are currently chilling out. Below that we did bounce of the bottom fib (7060 approximately) so I would look to that price if we fall to possibly provide us with some much needed support. Above us sits the .236 fib at approximately 7215. We may not get above this until we break from the bear pennant on the daily time frame. We are approaching the end of that triangle and the bolinger bands are tight so like I said earlier I expect some movement very soon. Weekly is looking like we will break through the cloud next week which will put us back under the weekly cloud and that may take some steam from the bulls. I wouldnt be surprised to see 6k if we go below the weekly cloud.... But WTFDIK right???