The major pitchfork
in the chart is constructed using P00 instead of P0, and seems to describe the market fairly good. The price has finally failed go below .5 LMLH, which allowed the construction of the minor pitchfork
. The monthly view for this pair suggested a continuation of the upward motive, however little that continuation might be. Now it seems that a bullish
action around the MLs is possible, and the price may target UMLH of the minor pitchfork
crossover in Stoch
might help confirm that action. As an alternative scenario, the MLs may push the price downwards, in which case the downward move should be assisted by downsloping pitchforks
for the target.