If the 200 MA support broke that H&S is very much true..i can see there are two head and shoulders but dont know which one is correct formation...the inverted seems not good..50/50 chances...but seems bears took control again..as we havent touched 12k ..inside 12k it is still bearish zone and this inverted H&S if dont have enough fuel cant take us to 12k..it can again fell down from 10k if took that direction..i am neutral for now..even if it took direction of upwards if 8.8k is not passed it will come down again..check the another related idea below in link..
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price is below 50 MA and 100 MA i haven't observed that ..THAT CAN BE BEARISH..It must stay above these two and 200 MA must support as well ..if these are not happening then another down is for sure..
@telsilicon, i am not sure..we have to come out of falling wedge and should be above 10k untill then bear only..i dont know even we are gonna hit 10k ..becoz there are two hand S formations ..which one market is following i have to see.for now 4hr is showing bullish sign...