Sorry I am late getting this out. Military duty.
We are solid above the 8 and 21 trend lines. Still caught in support and resistance established in the beginning of 2018.
Fear mongers will cry that a head and shoulders pattern is forming. However, I have reservations regarding this.
We have now two signals. One in February and on in April both targeting the same zone in the 27500 region. This is a break out from the S/R that has been established.
WHEN we break in this direction, I would anticipate a soft reversal back to the resistance level (which will now become support) before trending back up.
I am late in getting this out. May started off a little rocky. However I like this. The price action is anchoring itself firmly within the channel to demonstrate that it is not running away from the averages.
I would say, positive trend. Price projection targets of 27292 and 27512. Take the average there since I trade on averages and we are at 27402.
Until next month!
We are solid above the 8 and 21 trend lines. Still caught in support and resistance established in the beginning of 2018.
Fear mongers will cry that a head and shoulders pattern is forming. However, I have reservations regarding this.
We have now two signals. One in February and on in April both targeting the same zone in the 27500 region. This is a break out from the S/R that has been established.
WHEN we break in this direction, I would anticipate a soft reversal back to the resistance level (which will now become support) before trending back up.
I am late in getting this out. May started off a little rocky. However I like this. The price action is anchoring itself firmly within the channel to demonstrate that it is not running away from the averages.
I would say, positive trend. Price projection targets of 27292 and 27512. Take the average there since I trade on averages and we are at 27402.
Until next month!