Yesterday we broke from the triangle pattern wich was nicely forming and giving us a price target at approximately $18450. We didn't quite managed to go there, yet! Today we reached the price of $18250 before starting to form a continuation flag pattern, so I see a lot of hope to actually continuing the short term upward trend. I see two possibilities here:
1.(green) If we brake the flag, we have the immediate resistance at $18250, which if broken will gives us access to our price target, and most likely allowing further upward movement.
2.(Red) If the resistance holds we will probably go down to the 17680% support. In this case we will see a sideward movement for a few days in this price channel.
1.(green) If we brake the flag, we have the immediate resistance at $18250, which if broken will gives us access to our price target, and most likely allowing further upward movement.
2.(Red) If the resistance holds we will probably go down to the 17680% support. In this case we will see a sideward movement for a few days in this price channel.
