I was watching for the market to hit 7.0 but it undershot the price and rallied, which I think is a good sign.
Now we are finding support at 9.0 which was a previous inflection level.
Where to next? If current candle closes near its high (bullish candle), I'd bet we would see at least a small leg up. If buyers got the strength, we should see a re-test of resistance just above 11. A daily close above that would be interesting (to say the least).
Check out the 4HR chart below and see if it doesn't excite the chartist in you... :)
Note
Still coiling for a move. My bet is that it will be an up move as long as 9.0 holds.
Yesterday's candle did not close near its high but the close is still higher than the open so I will take that as a bullish signal (although very weak). Let's see if we see today's candle close above the high of yesterday's.
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