Looking at this chart and seeing the two channels we could possibly be taking (yellow - bearish) (blue - bullish) it seems clear to me what the bulls have in mind for the next target. It happens to be the recovery-high of our swing from February - March (11500).
This low swing is a pullback to consolidate and gain more momentum to push higher. MACD is starting to cross bullish and the RSI is getting ready to bottom out on the daily. I expect to see a nice reversal soon and we'll have completed the 1-2 of the elliott wave count.
Personal opinion, as always. I'm no trading expert!
$11500 here we come!
This low swing is a pullback to consolidate and gain more momentum to push higher. MACD is starting to cross bullish and the RSI is getting ready to bottom out on the daily. I expect to see a nice reversal soon and we'll have completed the 1-2 of the elliott wave count.
Personal opinion, as always. I'm no trading expert!
$11500 here we come!