Breakout imminent, likely by Friday
Hi, in my previous analysis, I stated that we should expect a breakout in November from the 48-60 zone, which has played out since.
Previous post is linked below.
Since then, the chart has printed a bullish pennant with a breakout due imminently. On the 4 hour chart this extends over to by the end of the week. A breakout from this range will first face resistance at the ATH at 91, followed by 102 from fibonacci levels.
Target: 102
SL: below 70, or below trend line depending on risk tolerance
Invalidated by: a breakdown of lower trend line
Previous post is linked below.
Since then, the chart has printed a bullish pennant with a breakout due imminently. On the 4 hour chart this extends over to by the end of the week. A breakout from this range will first face resistance at the ATH at 91, followed by 102 from fibonacci levels.
Target: 102
SL: below 70, or below trend line depending on risk tolerance
Invalidated by: a breakdown of lower trend line
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