We are currently forming a wedge (be aware of fake break-outs which happened a lot lately).
The support is derived from May/ June/ September 2019 (Resistance) as well as from June/ July 2020 (Support). If this support breaks down we might see 12,300 and 11,800 next.
It seems that the upside is currently limited by 12,900 which...
Sometimes I really love trading patterns. Even though my last trading idea was a flop and I had to close it manually (what happend: the SHS (4H) consolidated into the upward trendline). At the end it turned out to be a bear trap; my gut feeling avoided losses and I was able to make a least some profits with my 50% position. Nevertheless, it was a flop.
We have formed a bearish bat pattern (not a perfect one) in June. In the beginning of July we have started to build a SHS pattern, which we just completed by breaking the neckline.
If we do not manage to reconquer the dotted upward trendline: Short with targets around 12.300.