4 hour chart on the left shows how what started out as the falling wedge did break the resistance trendline out of the wedge, but ended up only expanding the wedge wider into almost a channel, which then moved back down to the support trendline. This has built positive divergence as shown on the daily chart in the middle, and has begun to bounce from this level where 78.6% fibonacci fan and 61.8% fibonacci retracement of the previous upmove is providing a barrier. The weekly chart on the right shows where the fibonacci levels are drawn from. Notice on the 4 hour chart the level bouncing from is -100% fibonacci extension from initial downmove from previous high, and how the -61.8% extension also provided support as previous low.
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