With the closing of the last weekly candle , this is confirmation of a bullish close.
The pennant in yellow has not only been broken but the retest after the breakout has been bullish as well with the next confirmation being a broken 0.618 fibo level.
Weekly MACD has started showing a lighter shade of red signifying lesser selling power , based on my gut instincts , the MACD lines are going to cross in the positive zone upwards. Close monitoring of daily MACD is confirming this.
Target ? break of 1.0 fibo level and landing on 1.618 level.
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