Scenario 1 - Bullish Price has bottomed at $150 with a mean reversion play to $192-$230 depending on which resistance level holds above.
Scenario 2 - Bearish The next few weeks will determine if we have a long entry above $170 (if price breaks above). If it resists at the $170 -$180 level then we have a continuation to $150 or a squeeze.
We're seeing a nice break above the 50EMA on the daily and trendline. We will be assessing a possible buy order at the end of the day or end of the week because the DMI looks undecided on the daily chart.