How bullish would it be if this resistance is taken out? On the flips side beautiful risk reward for short, maybe OTM puts, June 34 strikes look interesting
Longer Term continuation pattern or potential Reversal Pattern? Bullish above the 23.6% Retracement as long moving average continues upward slope. Bearish on break of 38.2 and trendline, neutral for now
Nice Long Term View. 12 month + consolidation close to decision point apex. Positive Sloping Long Term MA and other support still holding, successful retest of summer trading range. Sideways channel must be broken decisively and then next stop all time highs. Stops on break of sideways channel under 150 area could signal end of this long bull run.
Longer Term View. Pattern should resolve within next few months, if breaks below lower trendline lower channel line test is in the cards. Would be very ugly for global economy. Upper break faces steep resistance and less upside.
