Up right now?

Morning folks,

So, today we take a look at daily chart finally. Last time we've discussed upside bounce that should become the right arm of H&S pattern on 1H chart. Indeed, upside bounce has happened, and it seems that it has become the arm of H&S, but there are few nuances...

H&S on 1H chart stands too distorted and skewed to the upside. And we do not want to rely on it. Recent price performance also doesn't match to idea of bearish pattern.

On daily chart we've got tweezer bottom and obvious pennant pattern under 3/8 resistance - two bullish signs. So, we do not exclude that upside action could continue. We keep our nearest target at the same 45K area. So, it seems that our reverse H&S pattern, that we're considering for last 2 weeks - might be in action already