Just looking at the chart, does this look like a bottom or a top? If this is a bottom, like Boris Sobolev says, why is the whole pattern above the rest of the price movement? It is garbage like this that gives technical analysis a bad name. Obviously a pattern has to be identified within the context of the larger picture. You CAN'T have a bottom at the TOP of a price pattern no matter how nice a W is drawn on it.
If anything, this chart looks to be forming right shoulder of a head-and-shoulders pattern, which is definately NOT bullish.
Go check out the previous post and there you will find a "bullish W".
I wonder if Boris is related to Miss South Carolina?