Price has completed a rather harmonic AB=CD with this
last move up. A break above 37,20 could accelerate upward
move, since a failure of respecting the pattern completion
often result in dramatic PA. However, from a technical
point of view on Daily time frame, the level right now is not
attractive for longs. Either wait for a break higher (preferably
on a close basis) or try to trade the AB=CD pattern with a
minimum target at 33,31 or if a 3 Drive pattern is forming
(2nd yellow down leg) look for longs around 34,00-34,40
area.
last move up. A break above 37,20 could accelerate upward
move, since a failure of respecting the pattern completion
often result in dramatic PA. However, from a technical
point of view on Daily time frame, the level right now is not
attractive for longs. Either wait for a break higher (preferably
on a close basis) or try to trade the AB=CD pattern with a
minimum target at 33,31 or if a 3 Drive pattern is forming
(2nd yellow down leg) look for longs around 34,00-34,40
area.