based on the Red line there needs to be a pull back and then range bound run prior to next run. Seeing how it hit the green line last time it pulled back to range I would expect it to pull back to the black line prior to next run.
Abu-Sushi
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@Sparticus1984, This should be the case however the buying pressure is very strong ..
We can see a bullish pennant on daily time frame ..
and a strong breakout in 1 hour time frame ..
which could take us again to the higher red line ..
Ideally price should pull back to black line to reset RSI on weekly and monthly …
we could also chop
thx for the feed back and good luck
Breebellaa
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What do you think is price target eow? I have calls
Abu-Sushi
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@Breebellaa, the upper red line as long as Green line hold meaning no daily candle close below green line
If this breakout is strong we will reach red line within 3-4 days