Price has stalled at the 2505 area. Look to see if price can break this level and continue upwards. Price could come down lower to 2500 area and the lower median line again if we don't see a follow through. Look for a break higher and retest of 2505 if we can get momentum.
I have drawn in the modified schiff fork on this time frame, and have noticed the sliding parallel showing frequency that we are on right now. If we go down look for 2495 and 2488 as support. To the upside we can look at the blue median line, and the upper blue median line parallel.
Price has moved higher, but is still following along the blue median line. Price will probably continue a bit, then break out aggressively either way. The line is acting like a magnet now as it follows along, which happens about 15% of the time near median lines. Notice that we are at the top of the yellow action reaction set as well, so this could also be a...
Price has lifted higher to 2505, and is now drifting down a bit. Look to see if 2500 or 2495 holds as support. We have had the test at 2487 with the confluence of minor support. Look also for the upper sliding parallel and upper blue median line as resistance.
Price has risen and is currntly moving along the retest of the lower blue median line parallel, and is close to the upper action rection set line. Look to see what price does between now at 2502 and 2510-15 to see if price will continue up or start to drift down. I do think we should see price drift down eventually to 2450 and 2400 again.
Price has broken through to the upside and is currently at 2505. We are following along a sliding parallel resistance line, so look to see if price come back down to 2495 or 2500 for resistance before showing if it will continue higher.
Price is slowly losing momentum now, look to see if we can get a move down to 2480 before having another move up to try to break 2495 and the 2500 psych level.
Price has still stalled at the back test retest of the blue median line. This is showing that price should remain below this area and try to drift down.
Price has come down to retest the blue middle median line. Look to see if price will continue upwards from here and break the 2495 area, or continue down and touch the 2480 as support. Price looks a bit extended at this point, so I would be more cautious of any new long positions, and I would encourage to look at structure formation especially as support.
Price is still at the retest of the break of the lower blue median line parallel. Look to see if price will come back down to 2480 and hold as support, or go up to hit the upper action reaction set line.
Price has started to drift down after retesting 2495 as resistance which is near the 2500 psych level also. Look to see if we continue to drip down to touch the middle median line or if we hold on the sliding parallel that I have added in as support.
Price is pushing forward in the median line after hitting sliding parallel resistance near 2495. Look to see if price comes down and holds the middle median line as support.
Price has continued to rise but is having trouble breaking the retest of the back of the lower median line. Look to see if price can continue higher from here, or if we go back to retest 2480 which I think we should do today.
Price has broken to the upside out of 2488 resistance. Look to see if price retests 2488 and goes higher, or if we will see a breakdown here to go down to 2480 and hold as support
Price has risen and broken 2480. I have removed the down fork and have added the larger up fork. Look for price to show you if it will continue higher from here, or break down at the resistance level of 2488. If we break down look for support at 2480 and the 2475 area.
Price has risen to the upper resistance level and the back of the median line. Look to see if price will come down a bit today as we are at the back of the median line which can act as resistance and the resistance line confluence.
Price has broken the downward fork, but still hasn't made a new high yet, so I will still leave it in the downward fork. Price is now at 2474 area, and is turning. Look to see if price fills the gaps, or breaks higher and tries to break 2480 and 2488.
Price has slowly come up to the 2480 level again, after hitting the 2450 area as support. Look to see if price will break the 2480 resistance level, or if it will stop here and break down again. Price has broken out of the large blue median line, and is following the path of the upward sliding parallel, so it appears that price should try to touch the upper line...