Last updated February 1, 2019
Big Picture wise price is still in “da box” and it therefore can’t really tell us if it wants to move up long-term or down. We need to see a break out. The positive is though that it has held the mid line and put in a strong monthly candle. Thus I am keeping the two counts shown for now until price confirms either
The daily chart can, however, give us some more clues: price broke out above the downtrend line in place since February 2018, and has moved above its 200d SMA. Thus from these two perspectives we have a big positive about where price wants to go next: up. We may have a failed final low in Jan. 2019 and price is now starting it’s first new impulse wave up is underway. All the daily Technical Indicators are moving up and positive. There’s no negative divergence anywhere, while the RSI5 makes higher highs wanting to see higher prices after each dip. Thus for now we should look higher, not lower.