Currently price is trading at the edge of a major classic fibo support. If we can stay above this level ($157) it could trigger a bullish
rally taking out resistance levels along the way. AB=CD harmonic pattern
suggests trading is to be expected above $577 within the next 19 days. Thus, MIN TP can be set at the $677 fibo extension, and its possible to look higher for a MID TP of $888 and a MAX TP of $1000 down the road a little. Additional bullish
confirmation can be sought from an RSI
value over 50 and a breach of the EMA
25 on the 4HR.
Alternatively, if we breach the major classic fibo support zone
, we have strong support at the max consolidation range around $100.
Cheers and GLWT!