mate, with all respect, but it is not a question of spike but a whole market background..
[list][*]GU broke the wedge on 4h been stuck in days there[*]EU on daily forming H/S[*]GY on daily forming H/S possible trarget at 146/7 level[*]GY daily after a breakout from 163.0 we have 6 daily bars all red with closing under 5sma on daily, 2 weekly bear bars..[*]GY after that breakout from 163.00 hit the low at 153.46 (153.50) and bounced from here.. Usualy in that kind of movement we are comsolidating here few days.. and most likely we are...
The GY is at a decision point within the next 8 hours. everything has followed the pattern exactly to this point. we are right on the lower trend line of the up channel to 170.
if it fails to hold, it means the retracement of the down move from 215.87 to 118.81 was probably completed at 162.78 and this thing will start whipping down with a potential target of 137.9 in the next 2 sessions.
(remember August, September last year?)
buckle up, this is going to be fun!
