is well directed (to the upside) but needs to really get above 50. Beginning of October started off well but last week it consolidated at a level that proved to be too hard to break the week of 29th of August and 5th of September.
The week isn't over yet so it can definitely break higher in the coming three days.It already tested the consolidation zone around 103.85 - 104.20. If the price can finally settle above 104.30-ish we might finally see new highs, maybe even 110.
We also see divergence in Q2 of 2016.
In summary, lots of signs supporting a break out BUT we need a good break of current consolidation area.