That is how I see it.
Monthly R3 is good target. At that level (R3 is reversal level) there will be a reaction but price is likely to break May R3 level (it may be even next month) as we broke yearly roof R4. By Camarilla rules after such breakout price should end at yearly R5. If you wish to buy better to wait for a close above monthly camarilla R1 (bullish zone).
Right now we are still in neutral area but with a bullish bias (above monthly Cetral Pivot Range which acts as major support along with monthly pivot and monthly S1).
And we had a sort of morning star pattern at monthly CPR which confirms bullish move.
When price reach monthly R3 we will have a ascending triangle, a bullish continuation pattern and a sort of macro bullish cup and handle.
For educational purposes only.
Monthly R3 is good target. At that level (R3 is reversal level) there will be a reaction but price is likely to break May R3 level (it may be even next month) as we broke yearly roof R4. By Camarilla rules after such breakout price should end at yearly R5. If you wish to buy better to wait for a close above monthly camarilla R1 (bullish zone).
Right now we are still in neutral area but with a bullish bias (above monthly Cetral Pivot Range which acts as major support along with monthly pivot and monthly S1).
And we had a sort of morning star pattern at monthly CPR which confirms bullish move.
When price reach monthly R3 we will have a ascending triangle, a bullish continuation pattern and a sort of macro bullish cup and handle.
For educational purposes only.