In this moment it's best to watch and wait. You can scalp around this level but you must be extremely nimble doing this. If you're a long term holder, you can hold continuously and have a stop below the impulse swing. If you're waiting to get in for a mid term hold you must wait for the breakout, and retest on the support as mentioned before. When you buy on the retest, you can happily buy and expect an upside movement to the upper target at 7300, giving a nice 10% move with an extremely low risk. :-)
The bottom before price went up looks strong, with reversal signals screaming upside impulse. I expect this bottom to be sufficient to give momentum to desired upper target. There is a probability that price will stall at the bottom of the at 6570 and go downwards, but along as it doesn't go below 6290 then I consider it to still be .
Where do YOU think price is heading? Leave a comment with a chart and let's share our thoughts!
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