We seem to be forming a flat ABC correction on the larger scale, which suggests we are currently in the B wave coming down. Since we have completed 5 waves down on the minor scale I am expecting a bounce for the (B) wave up to the red resistance zone. This resistance zone also corresponds with the 0.618 fib retracement upwards and several EMA resistances on different times frames. Bulish divergences on the RSI and MACD also suggest a bounce.