w1
A potential w1 bullflag is spotted. Price is currently at a strong support confluence with several supports coming in together. A week Hammer was printed last week, and hence this week will be to look for retracement to get long.
h4
More clues are revealed at h4. Although week to week is still currently a downtrend, price has printed an inverted head and shoulders. There was an observation that the shoulders reacted clearly towards the support trendline.
The head thus becomes a beartrap. Should price breaks the neckline, a new uptrend heralds.
updated 300116
Price moved up, completing the inverted head and shoulders and ready for the next up phase.
Naked Chartist 