Price has made it to the 45 degree line of the Gann Grid. This is the preferred support for a bullish move to base itself. Until that line is broken, I am assuming price aimed for and arrived here safely.
The 20 day FLD is in tact, albeit the weekly is looking in terminal decline at the moment. The momentum study is ambiguous as discussed earlier but both the regression channels off the last nested lows are still bullish. We need a move above the daily pivot to get price bullish.
The 25 pip range bar MMA is still bullish but with price at the spine and the 50 bar FLD above, we need a turn here to keep the bears at bay. The momentum study supports some stickiness, but will it be enough to prevent a waterfall? I have already posted my EW count: either 'c' down or '3' is pretty much done. Do we get a wave 4 now or something more bullish to push up into a larger diagonal as per the first chart?
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