1. Reversal Head and Shoulders sign.
2. 20 Days MA just crossed above 50 Days MA based on Daily TA data.
3. Decisively breached the strong resistance down trend line.
2. 20 Days MA just crossed above 50 Days MA based on Daily TA data.
3. Decisively breached the strong resistance down trend line.
Comment:
Wave 1 of 3 could complete at $11,700, and now going to have a short correction into Wave 2 of 3 (target = $10,600 - $10,900). Then, the target for Wave 3 of 3 will be $14,500 - $14,800 (if the length of Wave 3 of 3 = 1.618 of Wave 1 of 3) or it's also could up to $16,900 - $17,200 (if the length of Wave 3 of 3 = 2.618 of Wave 1 of 3) or even more depending on the market situation and the volume as well.