The short term looks like it may want to try for a run down again. Hrly bearish divergence formed, the 15min e200 is slopped down and could repulse the w5 back down, and the w5 is on standby for the strongest continuation signal if have. Thankfully it's only on the 5min. Another retest of the 50% fib could easily happen. If we close under it and retest it as resistance then we could see the 61.8% targeted. That should see the end of the run, if it hasn't finished now. Keep in mind this is a short term picture and not yet confirmed. Larger time frames all look great.Additional bull ammo - the hourly looks like it could be forming a very nice inverted head and shoulders pattern, so if we go higher from here instead of lower we will have the first shoulder and head formed.
Lets see what the market does
The short term looks like it may want to try for a run down...
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