After the break of the daily downtrend the RSI has cooled off creating possibility of further bull action. Nevertheless, there isn't significant volume to prove the uptrend in my opinion so we might witness a higher low being formed in order to continue growth, as bulls are still slightly extended. Anything over the 7030 support would be fine, stop loss level is 7000.
This would mean a H&S pattern on the 4H chart - the 1st potential scenario
Another possibility is formation of a bull flag and further growth. This would need a plenty of volume and probably a higher low. If the current resistance of 7590 breaks the next resistance is 7925. It is worth to notice that we have bounced from EMAs support and MACD(9,22) is about to cross.
This would mean a H&S pattern on the 4H chart - the 1st potential scenario
Another possibility is formation of a bull flag and further growth. This would need a plenty of volume and probably a higher low. If the current resistance of 7590 breaks the next resistance is 7925. It is worth to notice that we have bounced from EMAs support and MACD(9,22) is about to cross.
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