is currently in a bull flag
which should take it up to the 8500 fib where it will get wedged against the downtrend line and find heavy resistance. This will cause the ascending wedge
to break dropping us to at least the .5 fib. You will have to watch price action at the critical levels to determine how far down we will go. If we break the bull flag
, then we could retrace pretty far down, we will have to watch price action. If we break the downtrend line then the ascending wedge
will most likely fail and break upwards.
Long then short for now.