Ok as per my last analysis we are now pretty much at the bottom of this most recent move. It is worth noting that this move has created a new CME futures gap in yellow. From here I see some ranging for a day or so before we move to the top of the pink ascending triangle and close the new yellow gap. We will then range briefly before rocketing up to just below the red gap. One last push after another period of ranging will see us back at the top and closing the red gap. From here we need to go down to close the green gap finally. Once this is closed we will slowly edge back up to the top before the long descent down to the bottom by the end of the year (1850).
Entering longs now 75XX to close at 85XX or above.
Will then short from above 85XX back down.
Then long, then one last short again.
Entering longs now 75XX to close at 85XX or above.
Will then short from above 85XX back down.
Then long, then one last short again.
Comment:
5 min chart approixmation:
Comment:
Break out has occurred, target 8650
Comment:
Approximate price path:
Comment:
Trade closed: target reached:
Target reached for this one. Gap closed.
