I am simplifying my charts a bit to make them more clear at a glance please let me know if I need to go more simple. What we see is a bull flag that tested the top of our previous bullish channel and it held. This is a solid bullish indication but the retrace off the top of that bull flag was a pretty brutal dip buy trade opportunity which I took. Currently we are sitting at one of two supports left before we fall back into our previous bullish channel. If we fall back into this channel we could see 65 again which would likely make the bears get pretty loud in the space BUT this would also get our daily and weekly RSI back down into potential buy zones so it is a win win if you are in cash. Where we sit currently is a price lower then we want to see for this to still be a bull flag, an RSI that is higher than average but neutral at 54, a bearish MacD cross and a current daily candle wick that has already broken the two supports keeping us from going back into our previous bullish channel. Odds are currently favoring a retest of levels in our old channel between 70-65 so entering bullish here is quite risky IMO unless you are going for a quick flip. Lets see what the 4 hr hold.
