FMG Technical Analysis, page-9730

Well one eyed bias on charting is a fatal flaw.

your chart clearly shows a red engulfing candle, last time this happened it saw a drop to 19.00 thereafter

the dma lines you posted were breached & the wedge is DESCENDING not going up with lower highs
plus the lower line you drew is only 1 week old starting from 25 june, lol.

portends of an unsupported bull run in last 10 days followed by another drop away & long red candle, same old pattern here.

Trying to see a bullish indicator from a bearish engulfing candle is TA folly imho

ie BULL TRAP

we will see shortly who is correct
As a lower crack today will destroy or undermine your false 7 day wedge pattern.

SHORTS are loving what they see & rubbing there hands with glee at that 320c short opportunity.

its not good to be subjective or emotional, its chart statistics, be objective.