After a sharp bounce off of 1.75, chip-maker, AMD is still showing bearish technical conditions in the 1H chart. AMD 1H Chart 1/29(click to enlarge)Bearish Conditions :Note that price is still under the 200-hour simple moving average (SMA). Meanwhile, the 1H RSI is still holding under 60, which represents maintenance of the prevailing bearish momentum.Awaiting Breakout from Triangle: We do see a consolidation this week with resistance around 2.18 and a rising support - an ascending triangle. If price can clear 2.20, it would be a bullish breakout that would open up the 2.4 handle where the 200-hour SMA resides. In any case, there are a few things that I would like to see before considering a bullish reversal scenario. 1) Price should start holding above 2.0. It is doing so now, but another test would help confirm markets ability to anchor above this psychological level.2) The 1H RSI should push above 70, and after a pullback, hold above 40. This would indicate short-term bullish momentum. However, note that this would still be a short-term bullish outlook with upside limited around 3.00, the Dec. 2015 high. 3) General market conditions should be neutral to bullish. It would be nice to see the SP500 hold above 1900, and even better if it can climb back above 2000.If the short-term rally can extend into the medium-term, we might have the 4.5-5.0 support/resistance pivot area in sight. Refer to the weekly chart for Target 1 and Target 2.AMD Weekly Chart 1/29 (click to enlarge)