Your bullish forecast has turned correct, Steve, ... centered around the key moving averages holding in the 5.50 area. The upward pattern recovered in the last few days, and it appears to be news driven. That's the key.
If it wasn't news/volume driven, I think we'd see a complete sell down right now, from a 7.40 Double top on the larger chart. But , news driven, the higher target zone in the 8's is in play now. // My bearish chart bias, was just technical, as long as we were seeing lower lows and lower highs, and a range pattern stuck below 5.85 area, it was a range bouncing from 5.80 to 5 dollars. That pattern finally changed now, news driven. Now higher highs, higher lows. Now the upwave pattern has a bottom started around 5.10 / 5.20.... with support zone 6.00- 6.50 .
The only cloudy vision you had was when price broke down below those moving averages around 5.60... but... the news driven momentum changed that quickly in the last few days. And back at that 5 dollar zone I was asking... Is there ANY news coming?? Nobody answered.
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