Bulls recovered nicely after the sell-off earlier in the week, however there is still much uncertainty in the market from the magnitude and duration of the event.
Keep in mind that a pattern is a possibility, with the characteristic pattern forming on the 4hr and a declining associated with the pattern. If we break the neckline of 11058, I would expect a move back down to test the lows set earlier in the week at $9,017. Personally, this seems more likely as we are losing , about to start a slight bear cross on the 1 hr time frame, and are setup for the to undergo a cross as well. This could provide an excellent double-bottom setup on the 4 hr time frame from which bulls can bounce with more strength.
If we instead null the pattern, I would expect a relatively strong move back up towards the $14,0000 range with higher highs and lows being set on the way.