1. Price moved nicely in 5 waves from the bottom to the upper channel boundary.
2. Than it started to consolidate nicely in the form of flag below the upper boundary of the channel during this "deal/no deal" Greek circus.
3. ABC correction retraced to 38.2 fib of the 5th wave. The level nicely held several attempts of the bears to push the price lower.
Target: recent highs
SL: 11300
All of this looks quite bullish. All we need is "deal" during the weekend and possibly Monday trading starts with the opening gap to the upside.
IT's RISKY, the gap may occur as well to the downside. But overall - technicals favor bullish scenario.
2. Than it started to consolidate nicely in the form of flag below the upper boundary of the channel during this "deal/no deal" Greek circus.
3. ABC correction retraced to 38.2 fib of the 5th wave. The level nicely held several attempts of the bears to push the price lower.
Target: recent highs
SL: 11300
All of this looks quite bullish. All we need is "deal" during the weekend and possibly Monday trading starts with the opening gap to the upside.
IT's RISKY, the gap may occur as well to the downside. But overall - technicals favor bullish scenario.