We penetrated a minor downtrend line started in early March then closed back below it. Adam & Eve bottom formation is complete with the 1.39 close. A continuation move next week has resistance from 1.45 - 1.48 range, then the upper line of a channel we've been in since May offering resistance at 1.56, with a final target price of the Adam & Eve breakout at 1.64.
I would have liked to have filled that gap at 1.09, but that's more for my own psychological, basically irrelevant reasons.
We've got a lot more work to do on the chart before a reversal can safely be called, but the early set up is there. Some more volume would be nice but beggars can't be choosers and it might come after some stronger support is laid out, imo.
