Switch the scale to log on the weekly, and you can clearly see the upward channel. Then, on the daily, we broke out of the flag, retested, and now are heading back towards ATH. If we break 450, we're going to see 470, then the test of that upwards channel at around 520.
Looking at the yellow arrows on the weekly log chart, you can see our flagpole. With that as a target, I expect us to break to 550, then consolidate and retest the trendline before heading back up to our next target of 800 (which correlates with our 1.618 fib of about 780).
Looking at the yellow arrows on the weekly log chart, you can see our flagpole. With that as a target, I expect us to break to 550, then consolidate and retest the trendline before heading back up to our next target of 800 (which correlates with our 1.618 fib of about 780).