Description
⋅ Qantas facing a lot of resistance at 6.45.
This historical resistance was established in October 2007.
If we managed to break 6.45, expect free run to 7.60. Otherwise fall back support level at $6.05 then we re-assess from there.
Comment
⋅
Decision decision decision...
QAN went into a symmetrical triangle and is now being squeezed at the tip.
I see we have a bit - really just a a bit - of steam left to try for $6.45 again.
If we fall, we might go to $6.05.Comment
⋅
I have a feeling that Qantas has completed Wave 5. It is losing steam and volume. Slowly creeping down.
If this is the corrective wave ABC, then it seems like C which is longer than usual might be the Wave 3 of an impulsive wave down.
Take note.Comment
⋅ Revised target update.
Let's try for 6.45 again BULLS!!! Comment
⋅
If we break out of the ascending triangle, let's aim for $7. Comment
⋅ Comment
⋅ If we close above the ascending triangle today, expect to go long to Target 1 (remains).