In my opinion bears are trapped in momentum breakout. But the big boys are looking to take it higher. This bear trap is valid till the low @ 1833 is taken out completely. Expected price movements are blue (80% probable) & red (60% probable).
No no, its not my personal sentiment. Its price action method, I have noticed this kind of price action before too. Where it breaks with lot of MOMO to either side & then carry's on with opposite side of MOMO break. Usually it happens in trending market. Trend then starts ranging & breaks to opposite side of trend & traps the counter trend traders & then continues trend.