Which is it? How about both. Remember a breakout
of a is a breakout of resistance
until it breaks out, its resistance. Given the near
vertical upside assault in the indexes last week,
that created a short term overbought condition
at the least, one is probably better served to look where support
zones are for a lower risk entry on a market pullback.
For that we look to the blue lines as they are support zones.
For educational and informational purposes only.
These are not recommendations, trade at YOUR own risk