4hr chart: The weekly and daily waves continue to be bullish blue, whilst the 4hr wave appears to be retracing down to them. The momentum study & rsi suggest this particular journey is coming to an end by way of the wave counts within and the positive divergence. There is some work to do to get back into that ascending channel and turn the 4hr wave bullish, but for now, a move uphill of some sort is anticipated here.
1hr chart: the momentum study has stayed bullish throughout this last drop and indeed is showing positive divergence along with the rsi study. The daily spine is directly below and can be counted as reached, with the 4hr spine coming down at 105.60. Obviously, if the 4hr is going to get overturned, the 60minute wave needs to turn bullish and keep going once it meets that zone.
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