All signs are pointing towards the beginning of a C of B wave. Divergence on the Dsaily RSI consistent with a wave 5, in this case of A, momentum shifting back into positive territory on the hourly chart. Wave C of B will develop in 5 waves with first target @ 15990. The first of the 5 waves of C should stall slightly above the line indicated as 'breakout' on the hourly chart. Also my Cycles indicator suggests an intermediate low is in place.