Based on this TF the ares around 1250 is to be watched, next will be the upper BB boundary.
Reversal or retracement of current uptrend could be something for next week or the week after.
MACD histogram possibly has another 2-4 weeks before we get to zero...
Smaller retracements or to better pinpoint possible point of reversal/retracement to be looked for on smaller TF's, also see my daily chart...
Keep in mind that the big cycle bullish trend has not been negated, this last low could have easily been wave 2 (after the 5 wave up move to the trendline) of a very large bull trend of which we could have now started wave 3!!
Reversal or retracement of current uptrend could be something for next week or the week after.
MACD histogram possibly has another 2-4 weeks before we get to zero...
Smaller retracements or to better pinpoint possible point of reversal/retracement to be looked for on smaller TF's, also see my daily chart...
Keep in mind that the big cycle bullish trend has not been negated, this last low could have easily been wave 2 (after the 5 wave up move to the trendline) of a very large bull trend of which we could have now started wave 3!!
Comment:
Daily chart:
