Hope a good weekend was had by all. We have a large gap up from the close from Friday and are currently around 5250. This level was strong resistance previously and I am still about 80% sure of a drop down to 4800 if not further. However, if we rise up above 5250 signifcantly then I will revise my expectations of that drop. It started at 5400, bounced at 5000, up to 5250 (here) and then further down is what I am thinking, in a zig zag pattern.
The 4 hour stoc has levelled off also, as you can see below.
The Bianca trend lines are here, as you can see we are testing the top of the 10 day channel at the moment at 5240-5250.