Feeling the Bullish Vibes
Both the daily and the weekly charts are starting to look bullish again. We’ve reclaimed 94.5k and even pushed up to 96k earlier today. That definitely smells like a breakout to the upside. If this move gets confirmed and we can hold the 94.5k level, a return to six-digit territory looks very likely.
The driver of this rally was the latest US CPI data coming in better than expected. That’s fueling hopes that further rate cuts could be back on the table.
Honestly, I’m getting rather bullish again. At the very least, this looks like a solid bear market rally toward the 105–108k area. And if we manage to break through that resistance, we’re back in the bull arena. From there, ATH would be next.
Who else is feeling those bullish vibes?