Follow the arrows! Short, then long at the price shown. There is a probable trend line sitting there; see the 4h chart. GL>.
Not sure if it will down to the label shown, but markets like something to shoot for and this is the only thing I see as meaningful.
The HnS pattern is complete. Can it go lower? Absolutely! However, this is a CONFIRMED channel. So if it does go lower and touch the lower edge of the channel, prepare for long on confirmation. If it does hold, my speculation: Congestion into the late part of 2014 and then a breakout to the upper channel edge.
I am neutral until I see the bottom confirmed....
