Hello traders,
After last week's surge from the trend-line that was covered, lets look for other opportunities to profit off the market.
Keeping this on the daily time-frame only as the weekly time-frame has already been covered on the prior analysis, so let's get to it.
After that third touch of the trend-line at the 9600 region the price spiked all the way up to 10700 where it is currently being traded. This move resulted with a break above a very important intra-day level of resistance which I high-lightened with blue. This also looks like a H/S pattern still to be unfolded but as long as we maintain to stay above this level we should be headed towards 12000 region.
The Head and Shoulder pattern will only be taken into the consideration if we reverse back down towards the neckline.
After last week's surge from the trend-line that was covered, lets look for other opportunities to profit off the market.
Keeping this on the daily time-frame only as the weekly time-frame has already been covered on the prior analysis, so let's get to it.
After that third touch of the trend-line at the 9600 region the price spiked all the way up to 10700 where it is currently being traded. This move resulted with a break above a very important intra-day level of resistance which I high-lightened with blue. This also looks like a H/S pattern still to be unfolded but as long as we maintain to stay above this level we should be headed towards 12000 region.
The Head and Shoulder pattern will only be taken into the consideration if we reverse back down towards the neckline.
