Since we broken the 56$ or above the right shoulder. We are heading to 60$. before we get to the peak we need to hold the 56$ mark.
To prove this theory we cant do down 56$ or we will break the pattern. We still have the day to go up and down but since its broken the ice at 56$ i think it will hold if not it can recover.
We are heading at the right direction. If this theory proves to hold the said amount after chinese newyear will have a great boost in the market.
*this is just a theory and not proven. Your insights are well accepted comment below to share ideas.