On the 4 hour chart I see the following bullish signs: Red W3 and W5 was made on a positive divergens Orange W1 was 5 waves up Orange W2 is a triangle that needs to make the last E-wave (That could be very brief back to the 50 fib line or less - the 61.8 that makes a 38.2 retrace (very common) EMA 13 has crossed EMA 34 The count above is the very bullish...
Almost there ... have your dancing shoes ready! The question is...... at fib 78.6 or the 88.6 fib retrace? I'd say we'll very soon see a bounce (remember it's a monthly chart) and a possible retest a little lower at around 42. BUT could make a possible bottom here. The instrument is right now more oversold than ever before when looking at the the monthly RSI but...