The bullish divergence of the hourly chart relative strength index (RSI) has set the stage for a notable corrective rally toward the 10-day moving average (MA), however, the downward (bearish) sloping 50-hour MA is capping gains.
Acceptance above the 50-hour MA could set the tone for a stronger corrective rally, however, the gains will likely be short-lived as the head-and-shoulders breakdown witnessed on Sep. 7 turned the tide in favor of the bears. Further, the 5-day and 10-day MAs are trending south in favor of the bears.