Upper $7K's is POSSIBLE at My Primary 0.786 FIB @ $7,820.37.

Currently, the Yellow 20-MA in the 2-Day is right at $7,840. The Yellow 20-MA in the 4-Day is approximately $7,720. So, yes... it is POSSIBLE to fall down to my PRIMARY 0.786 FIB at $7,820.37. It's always a challenge to provide a price target range during periods of upward or downward pressure. Determining WHEN we will have upward or downward pressure and for how long that pressure will last in a given time frame is quite easy. The challenge is to predict a price target range during those periods. I will provide a couple of charts (2-Day and 4-Day) in a while to point out what I have said in this paragraph.

Comment:

LONG TERM: We are still in UPWARD PRESSURE. Is that CONFIRMED? Not necessarily... I would prefer to see the Red RSI in the Weekly and the 8-Day Time Frames to CLOSE ABOVE the 50% level. I simply believe it's highly likely they will CLOSE ABOVE the 50% level in the next Weekly and 8-Day Candles. This is why I stated in my previous publication that I do not see us falling back into the $6K's.

In the near term (right now) we are working on a brief dip before continuing up in our LONG TERM Upward Pressure. This is my opinion of course.

Comment:

Update using the 2-Day Time Frame (TF):

Comment:

Update using the 4-Day Time Frame (TF):

Comment:

Let's have a look at the 7-Day Time Frame instead of the Weekly. Those of you familiar with my teachings on the indicators my understand my notes. Those of you just now following may need further clarification. I'll provide a video publication for this later on in the wee hours of the morning during Central Time.

Comment:

Will have a LIVE Stream going in 15 to 20 minutes. I have the link going NOW. However, I will not actually begin analysis for another 15 to 20 minutes.

www.tradingview.com/...k-pXnxD9S67wiw84O0r/

Comment:

3-Day = White Energy is near exhaustion at 16% ... The Stochastic RSI is likely to bounce up off of the Red 80% level when the White Energy in the 3-Day exhausts and turns back upward.

6-Day = Red RSI is at 63% (above 55 percent) and the White Energy is at 78% and falling. However, we do not anticipate a CHANCE of a significant drop until the White Energy reaches the 50% level BECAUSE the Red RSI is above 55 percent in the 6-Day TF. What we are seeing in the 6-Day TF also provides support for what was just mentioned in the 3-Day. Meaning, we see the White Energy at 16% in the 3-Day and likely to exhaust then turn back up in the 3-Day TF. Well, the White Energy in the 6-Day still has quite a while before reaching the 50% level. Which gives us plenty of time for the White Energy to exhaust in the 3-Day TF and reverse back to upward pressure.

9-Day = White Energy is super high at 105% level. Don't be surprised if the White Energy turns down the immediately turns right back up in the 9-Day without going below the 50% level in its near term. We still need the Red RSI in the 9-Day TF to CLOSE at 55 percent or higher to feel more comfortable about a LONG TERM bull trend BEGINNING. The Red RSI in the 9-Day s currently at 51% level and rising. I prefer it to close at 55% or higher in that high of a time frame to use our rule regarding no chance of significant drop until white energy crosses below 50 percent level. We have a NEW 9-Day Candle beginning tomorrow (January 28, 2020).