Trend: The pennant chart pattern which formed yesterday was broken today. Unfortunately, there wasn't enough demand to drive the price up any further. A new pattern has emerged on this one hour chart, and that is the ascending wedge charted as bright yellow lines that form a triangular shape. Once the ascending wedge was drawn, I was able to see a bullflag pattern. Bullflag patterns are similar to pennants and both signal trend continuation.
Indicators: The SSL indicator is still showing a red line so the price action is still more bearish then bullish. The STC indicator is already deep into over bought zones and signals more consolidation. The Didi indicator signalled a buy recently at around 2.93 to 3.0. The Didi and SSL hybrid both gave a signal to buy roughly the same time, so 2.93 to 3.0 should be a good price point currently.
Thoughts: Monday is a non trading day so there should be some pent up demand to buy when markets open Tuesday. The price formed a bull flag, so hold on for a bit longer until consolidation breaks hopefully to the upside.
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