I'm thinking the ascending broadening wedge is going to be bullish enough to push us through 120, up until the 125 vicinity to our approx. neckline of the potential IH&S. with a target of 150ish.
I wouldn't be surprised to catch the 50ema support for a little bit in the bigger picture on the daily as we test the top of the downtrend channel again. Ultimately, that would be around 160$, from there we'll have to see what we get.
I wouldn't be surprised to catch the 50ema support for a little bit in the bigger picture on the daily as we test the top of the downtrend channel again. Ultimately, that would be around 160$, from there we'll have to see what we get.
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possible sloped neckline
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I guess there is the potential to just grind up the bottom of the trendline as well, and then just take off, but we'd have to allow for a lesser shaped shoulder formation. In a bear market though, I don't expect these things to work out perfectly anyhow.
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rsi
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Within the next few hours the picture will become more clear.
Within the next few hours the picture will become more clear.
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DISREGARD THE EW NOTE. I meant to take it off.
We'll see though. Depends on if the momentum continues. Could also have made a slanted neckline ever so slightly.