Triangle formed that could break positive or negative. first resistance negative would be about 215 while stronger resistance and buy signal would be supported at 204 from the shoulders of the previous Inverted H & S.
A positive break would likely send it above the channel back on track to hit 247 and have very little resistance on its way to 300.
until the triangle is broken it can go either way.
A positive break would likely send it above the channel back on track to hit 247 and have very little resistance on its way to 300.
until the triangle is broken it can go either way.
Commentaire:
symmetrical triangle is flirting with the resistance line, has formed a new resistance line and the 215 and 205 lines will become support for a nice bullish flag. any dip at this point could be expected but isn't necessary to move forwards.
Commentaire:
Commentaire:
breakdown of third resistance, heading to 212.
Commentaire:
Hit a new bottom at 208 and pushed past lines of resistance, may retest lines to ensure strength before moving upwards. This coincides with Elliot wave B, the next movement will likely be to 300