As expected from my prev chart, the volume is not convincing and it did retrace to retest the breakout zone of the triangle.
From a chart patterN point of view, a bull flag is forming, a break out of this flag might signal the next target which is around 27000-27500, according to the length of the pole and also the major resistance.
From the elliott wave point of view, we are now currently under wave 4, and once wave 4 is done (we might enter a short term consolidation phase or we might just shoot out from here, coz we couldn't project time and volume can kick in at any time, we will see another wave 5 up, target is almost the same as above 26500-27500, where the resistance lies.
*The few arrows show 25700 is a major resistance and we need quite some volume to break it IMO.
From a chart patterN point of view, a bull flag is forming, a break out of this flag might signal the next target which is around 27000-27500, according to the length of the pole and also the major resistance.
From the elliott wave point of view, we are now currently under wave 4, and once wave 4 is done (we might enter a short term consolidation phase or we might just shoot out from here, coz we couldn't project time and volume can kick in at any time, we will see another wave 5 up, target is almost the same as above 26500-27500, where the resistance lies.
*The few arrows show 25700 is a major resistance and we need quite some volume to break it IMO.