Please remember, the megaphone can exit either direction.
I think as long as we hold the 618 from the run up we should continue. If we do, next level up for me is 55,555.
Major lines and levels are marked, but with the pattern still developing, we are in a waiting patter on the HTF. trading this consolidation pattern while it is forming is higher risk.
Bearish outcome is very much possible and TA to support this is that we are outside the LTL from the runup. I think dropping below the 618 (about 48,600) would be the next major milestone to give the bears some more momentum.
Until then, I think the bulls are still in control and we are just doing some healthy consolidation.
I think as long as we hold the 618 from the run up we should continue. If we do, next level up for me is 55,555.
Major lines and levels are marked, but with the pattern still developing, we are in a waiting patter on the HTF. trading this consolidation pattern while it is forming is higher risk.
Bearish outcome is very much possible and TA to support this is that we are outside the LTL from the runup. I think dropping below the 618 (about 48,600) would be the next major milestone to give the bears some more momentum.
Until then, I think the bulls are still in control and we are just doing some healthy consolidation.