As expected yesterday, we broke the 66k daily resistance and we are now at the top of this pitchfork that has been respected very well for a long time.
You can see how on the drop and the 2 week consolidation, the lower .25 (orange dotted line) held perfectly as support, we never lost it.
For now, the top is acting as resistance, we are still bullish of course with shorter term targets at around 73k (will update you as always).
We want to hold the daily at 66k as support, a loss of this support could get us lower to below 60k at least, I will also update you on a short time frame bearish Elliott wave count (only if we lose 66k).
For now, of course, we expect higher
Any questions?
Good luck traders
Remember not to break your rules
Habib
You can see how on the drop and the 2 week consolidation, the lower .25 (orange dotted line) held perfectly as support, we never lost it.
For now, the top is acting as resistance, we are still bullish of course with shorter term targets at around 73k (will update you as always).
We want to hold the daily at 66k as support, a loss of this support could get us lower to below 60k at least, I will also update you on a short time frame bearish Elliott wave count (only if we lose 66k).
For now, of course, we expect higher
Any questions?
Good luck traders
Remember not to break your rules
Habib
