Will Qantas break the $6.45 resistance established 10 years ago?

Updated

Qantas facing a lot of resistance at 6.45.
This historical resistance was established in October 2007.

If we managed to break 6.45, expect free run to 7.60. Otherwise fall back support level at $6.05 then we re-assess from there.

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Decision decision decision...

went into a symmetrical triangle and is now being squeezed at the tip.

I see we have a bit - really just a a bit - of steam left to try for $6.45 again.

If we fall, we might go to $6.05.

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I have a feeling that Qantas has completed Wave 5. It is losing steam and volume. Slowly creeping down.

If this is the corrective wave ABC, then it seems like C which is longer than usual might be the Wave 3 of an impulsive wave down.

Take note.

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Revised target update.

Let's try for 6.45 again BULLS!!!

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If we break out of the ascending triangle, let's aim for $7.

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Looking good.

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If we close above the ascending triangle today, expect to go long to Target 1 (remains).

paper_value

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