Even though rally driven by spot, if we are going to overextend and see some rapid major impulse im watching 17k break for it to be a jumping off point for that impulse. Basically no historical vol and little chart history up at these levels. Good thing for bulls makes a move up likely easier and you want to be a part of that final push. Could be a couple pit stops at some old pivots that algos may look for but other than that wanna see that open sky. One thing i dont want to see is buying pressure break its trend. Had a nice reaction on the touch over the weekend. Also confluence is that since its at the bottom of the channel has a nice bit of room to move up. Break above the channel and thats ur blow off.
Comment:
Got the final push followed by the break down. No blow off though. Kinda poor high at the 19.5 levl. Either way nice move up from our post.