Healthy consolidation of the prior run.. Hold these levels very well so far while playing between the upper fib retracement levels from last run suggest big time strength here. Indicators looking ripe as well, BBands tightening which say a big move is cooking up potentially while MACD is benign suggesting the same. Kinda interesting to note here is that the RSI is actually trending.. not alot of people know this but you can fit trendlines to the RSI and so far this one has been great during the last couple days consolidation phase as it starts to trend upwards.
So these are all good things to note and I would definitely keep this on my radar. If we get a close above the upper resistance line I'd be leaning towards the scenario I wrote about in the quoted post and looking long term IF we take out the high from the other day I would be leaning towards massive upside (weekly chart example)
Failure - actually kinda hard for me to say here, I don't have a specific target I would be more interested in watching volume on any downs. So far volume pretty low on this consolidation phase. If I had to have a for certain price target I'd say if we took out the 1280 low of this phase that would be concerning for sure, but again volume is king here.
Not financial advice.
So these are all good things to note and I would definitely keep this on my radar. If we get a close above the upper resistance line I'd be leaning towards the scenario I wrote about in the quoted post and looking long term IF we take out the high from the other day I would be leaning towards massive upside (weekly chart example)
Failure - actually kinda hard for me to say here, I don't have a specific target I would be more interested in watching volume on any downs. So far volume pretty low on this consolidation phase. If I had to have a for certain price target I'd say if we took out the 1280 low of this phase that would be concerning for sure, but again volume is king here.
Not financial advice.