Currently watching this bull flag that's trying to break up versus a rising wedge with the 2017 log support line (or area) as resistance trying to possibly break down.
Also watching the RSI - if this thing DOES break down over the next 8 hours, we'll probably have a very heavy hidden bearish divergence.
4 hour chart posted here. Chart explained in colors:
Blue: Two (large) bear flags drawn, one smaller than the other. However, if the smaller and more well formed one breaks down, it could in theory simultaneous confirm the larger one. We're currently floating with the bottom of the flag with both, but would probably want to wait for a low from the flag pole to...
Double top target + next FIB resistance + bear flag we just broke down from and hit target on. Plus theoretical resistance at 6k; it likely either won't get there or will pass through though.
Will be looking for a hidden bearish divergence in a few hours time... that's all. Also check out the channel; not many points of contact and on a relatively short time span but it's best I can work with right now.
