I'm not sure on that lokaull .... see below chart ..... the pattern I see is a Falling Wedge on the weekly ... if this is so it would tend to be Bullish. Refer link on Wedges http://www.incrediblecharts.com/technical/triangles_and_wedges.php#Falling_wedge
Mind you it could still be a could entry point for a small scalp?
New image below
