Higher Low?

Could this be a higher low or just a short term bounce to make a much bigger head and shoulders pattern? The Lower time frames appear to be showing some strength at this time. Higher lows on the RIS with a bullish candle on the 4 hour. I am optimistic for the next couple of hours. Dont just the gun of course but this is something significant to keep an eye on. After all we havent been seeing waterfall sell offs in a while.

Good Luck and God Speed Gents,

Mr.Manbearpig