The completion of ABCD wave structure and double bottom pattern at 1180.00 support hinted a nice bullish recovery i mentioned in my previous post. Now, price is testing the main and key resistance level around 1268.00, i would like to see a break above that resistance to look for more upside and post a new trade setup. A beak above the 1268 would complete an inverted head and shoulders pattern. Roughly, targets star at 1294.00 and higher. Will be updating with more precise outlook if a breakout occurs.
Comments
MicroCapEquity
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1340-1360, the miners are already priced at when gold was there around Oct 27-28, 2013.
fourkey2001
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what happens after 1294?
Technician
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:), i dont have a crystal ball. But we will probably head higher.