To change the trend the bulls will need to negate the , set a lower high below 7.30, set a higher low above 5.92, then break out to higher highs. If that happens, there is a lack of resistance between here and all time highs and there could be a decent move to the upside.
Bulls do appear to be buying the dips the past three trading days but will need to break above our clear on the .
Looking at the 1hr chart we do see an equilibrium playing out with successive higher lows. The most recent low to hold is 6.07, so any bottomfishing attempts would be made against that support. Break that support and that will increase the likelihood of confirming the and dropping down to lower lows on the .