Here is my fearless (and possibly feckless) forecast: Daily...

Here is my fearless (and possibly feckless) forecast:

Daily chart bullish butterfly: After the initial selloff to point X we had a substantial bounce to point A. The bears again took hold and drove the price down to point B (61.8% of XA). We then put in another bounce to C (76.4% of AB ) which leaves the final down leg to D which has two alternate targets as shown. Both these targets fall around strong Fib support levels indicated by the horizontal lines.

The irony of this chart pattern is that it is not particularly bullish overall, with the average rise after turning at point D being to somewhere between points B and C.​

Just a speculation of course, and not intended as advice. Source: thepatternsite.com