From a charting point of view and although I am no expert:
1. Bollingers are contracting, but not yet as close together as they were prior to the spike in early June. As the bollingers get closer together, more chance of a break (which can be either up or down).
2. Hammer candlesticks on Thursday and Friday, and a Dragonfly doji on Monday (all signs of a reveral following a downtrend, the dragonfly being a stronger sign than the hammers - they all show resistance to lower prices though).
sellers patience is wearing thin, page-6
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