I have higher confidence in these circles than the path it takes to get there. I'm not sure if it will break down on the red circle or make a couple more touches. The triangle doesn't run out for another 28 hours and they've been running close to their ends lately.
A 3-5 more days of sideways at most centered around $375 and within the yellow triangle then dump to somewhere between $308 and $325. This would break the larger red triangle so I'm not so sure how probable this is.
I'm still bullish even though this rise is very slow. The bears just don't seem to be strong enough. However if it breaks down then the next oportunity will come just before Christmas. It's remained in the center of this channel since I first drew it shortly after the dump from the low 470's. I placed the brown dotted line on the 13th. Closer view below.
There is a small window left for a blowout upward. If we break the red line of upper resistance,.. well we're off to the races. How far? I'll not guess. If we break the purple line of support then it's more chop in the red triangle maybe till the end of the year with lows down to the $350's. This has till 04:00GMT 12/15 to work out..
It won't be long and we have great upside after the bottom. Breaking 410 within a day two after this bottom, but now we are in the middle and I don't see it reversing before it gets to the bottom of the flag.
I had this pennant the whole time I was looking at the Thanks Giving head and shoulders. The H&S didn't work out (well it did but not to the 330s) and now we've broken out of the end of the pennant. Here we go!