When a corrective structure forms at the top of a bullish move, it is likely (not certain) that another bullish move will ensue. Initially, the consolidation was between 8600 and 10,000 level but since June, the range seems to have narrowed a bit to 9,000-10,000 range.
My expectation is that this narrowing or squeeze will continue to tighten the range. We will see bulls and bears trying to gain control, this process will probably occur over several weeks before price breaks out to the top side.
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As always, please use sound money and risk management in all your trades.
My expectation is that this narrowing or squeeze will continue to tighten the range. We will see bulls and bears trying to gain control, this process will probably occur over several weeks before price breaks out to the top side.
If you like my analysis, please give it a "thumbs up" and follow me to get immediate notification of my posts and updates.
As always, please use sound money and risk management in all your trades.