This is the start of the tenth week of this rectangle. The rectangle conforms almost exactly to the body of the candle from the week February 24. Sure looks like it wants to pop above, but there is no reason the lows of the previous two weeks around 314 can’t be tested at any time.
The signal will either be xCC or xFC. xEFEF is unusual on 7/17 for xEM. xE means the exponential moving average ticked up but the simple moving average ticked down. That happened for the 3 and 13 day averages but not for the 7 and 21 day.