1. Structure (red dotted line)
2. 4/1 Gann Line (2nd toughest resistance)
3. 50% retracement reached of last week's move smack dab at the 4h 100 SMMA
If this holds I'm carrying the short till next week. Stop placed at 76.2
Ignore the noise and speculation, trade what you see: 4h candle above its 100 and 200 SMMA, with hidden bullish divergence indicated by the lower low on the RSI and the higher low on the chart. So based on this, I'm looking at a good re-entry point to add to my long position.
I know a lot of people are charting out the big drop, but that's the sort of wishful...