Abercrombie & Fitch $ANF formed a price bottom in 2017 and rallied in the second half of the year. In our last observation, we saw ANF break above a key falling resistance. Now, price is pulling back after pushing to $23.50.ANF Daily Chart(click to enlarge)Pullback:- The daily chart shows that price retreated after tagging 23.50. - If we believe the 2017 bullish reversal attempt is still on, we should believe traders will be looking to buy on this dip.- Holding above $20 would be a strong bullish signal. So far, we saw some buyers there, but it is still early, let's see what happens at the close of the week as well as in next week's price action.- I think price can come down to $18 and still be bullish. - In fact, a deep retracement back to $15.00 could still be in the context of a bullish market.Bearish Long-term Trend:- Price action in 2017 and 2018 so far suggests a bullish reversal.- But the strength of the prevailing downtrend discourages being optimistic about the bullish outlook.- In fact, the inability to push above the 200-week simple moving average could be a sign that bears are in charge.- In think when looking at the long-term trend and considering the resistance in the short-term, we should think of ANF as neutral, maybe with some short-term bullish momentum in at least early parts of 2018. - I think we should monitor the 20, 17-18 price rage, and finally around 15 for buying. - If price breaks below 14, ANF would probably have shifted back into the long-term bearish mode. Bullish Scenarios:- If price bounces off of 20, it means the market still has strong momentum. In this case, I think price will have upside to 30-32.50. - However, if price falls back to 15, I would expect the trajectory to be more flat and limit the bullish outlook to 25. ANF Weekly Chart(click to enlarge)