This will be interesting, watch for the range to tighten.
Expecting a tight band from 60 to 58 ish as accumulation picks up.
Coming up to a Bull Flag with top at a Fib level and the bottom at a Gann Channel.
WAIT... - Then long from 60 -> high 60's.
Double Gann Fans | (Zoom out for full picture)
The long term channel is STRONG and was the force behind the recent bull move
I suspect we will remain within the long term grey fan channel
Slowly moving up to 160 Target
Pretty new using the these harmonics but this looks like it hits all the measurements of a BULLISH Gartley
Days to Cover are at 1.9 with just over 2 million shares short.
So, if we get a move down towards (D) I wouldn't expect it to stay their for long.
After completing this pattern (fingers crossed) I suspect: LONG
Based on fib levels as well as several small and large 5 wave patterns ..
To come... a strong push the next level.
Then, watch for either
(A) a violent rejection of that level or
(B) a breach that is followed by heavy volume and CMG headed deep into the 9's.
*No position, atm*