We are sticking within a long broad sideward range for 2 years now. The last attempt to reach the highs of May and August 2022 has failed in November. This week's spike may be seen as a correction of the drop after this failure. At present I don't see the momentum to leave the broad range. Thus I prefer to sell this week's rally for a test of the downside of the now tightening range. This tightening may be a preparation for an outbreak. But now it is not clear in which direction this may go. Some tests of both directions up and down may occur before we can see a decision.
Trade closed: target reached