It seems that direction is set

Morning folks,

Once we were watching for deeper action, market suddenly has got the injection of positive mood from JP that drastically has shifted situation and our supposed retracement was over in a blink of an eye. Now, we the patterns that we have on higher time frames - weekly and monthly, we could say that upward direction seems to be set. As we have signs of thrusting action, we suppose that extension mode is started. Our long-term target is 75K.

So, the recent lows become now vital area for current bullish context and market has to stay above it to keep it. At current moment we do not consider any short positions. As price now stands at major 5/8 resistance and Agreement with upside AB-CD target, flirting near Overbought area, maybe it makes sense to consider tactic pullback to 44-45K area for long entry. Especially because H&S shape is becoming clear now.