I like to analyse the Weekly time frame to give me a perspective on when I am forming my Bias.
The Bias is still bullish and it simply looks like a minor correction of the previous rise and we are looking at making a higher high.
If price closes above 11380 then 13448 (overlapping fib areas) well then we may see a double top at the All Time High.
Price action will tell us when we approach these areas. We may be setting up for a very fast rise to the targets and once price terminates we will see an even faster decline.
Price has fibbed and held the % retracement and that signifies that we have fibbed and price will head up for another leg.
Looking at the 127% of the two fib studies we get two possible targets bearing in mind we still have some resistance to get past.
1st target 26404
2nd target 29986
This is just my opinion. Anything could happen so trail your stops.
The Bias is still bullish and it simply looks like a minor correction of the previous rise and we are looking at making a higher high.
If price closes above 11380 then 13448 (overlapping fib areas) well then we may see a double top at the All Time High.
Price action will tell us when we approach these areas. We may be setting up for a very fast rise to the targets and once price terminates we will see an even faster decline.
Price has fibbed and held the % retracement and that signifies that we have fibbed and price will head up for another leg.
Looking at the 127% of the two fib studies we get two possible targets bearing in mind we still have some resistance to get past.
1st target 26404
2nd target 29986
This is just my opinion. Anything could happen so trail your stops.
