In the process of the formation, I noticed a possible pattern (shown in blue dashed lines). The Target for the pattern is the blue arrow which nicely matches previous support @ 132.492. So, if the does break to the downside, then we can expect to see a drop in prices down to this level.
Another target is the ascending pattern target (highlighted in gold arrows) that match with previous structure ( gold dashed lines). I drew to targets because the is both a continuation and reverse chart pattern (and both targets very much match structure). The Target matches with the gap down seen on Jan. 23rd.
Also, the (14) has formed a symmetric triangle in the process of the price action forming an . This could imply that we will see a nice move in either direction. I will wait to see a nice confirmation of a break before I trade (which ever way it does break).
Trade wisely, Trade responsibly.
Comments are welcomed.