price has shown the way and has broken out of the red fork, while at the same time bouncing nicely off of the bottom of the blue fork to confirm its validity.....a lower low was put in on the stochastics which could be the beginning of a longer term uptrend, as shown by the black line.....stochastics are currently overbought and you would expect the retrace to continue for a few days yet.....look for a bounce off of the blue fork or black stochastic line to start the next move up.....keep an eye on overhead resistance when price gets to the purple line
