What was support is now resistance. Will resistance be broken?
The next 2 charts below shows the inverted head and shoulders and how the bullish pattern was successful.
The next 2 charts indicate the possible path should resistance be broken.
The charts below show you what was once support is now resistance.
Will the resistance be broken?
Looking at the Stochastics momentum indicator. The daily chart is over bought and weekly chart indicates more follow through.
On the short term look for a sideways consolidation with good support at 7400 and 7550.
If that doesn't hold then the 5000 to 5600 area is support.
Odds are greater to the upside than the downside at this point.
A breakout to the upside is better than 50%.
Ending......... Look back at the other posts. You'll understand that there's one more wave, meaning all time highs in the future.
All data and information provided is for informational purposes only. Trend Wizard makes no representations as to accuracy, completeness, currentness, suitability, or validity of any information in this post and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis. I document this stuff for personal reasons as a log and share with the community...... only because I'm a nice person.
So in ending........ Use critical thinking and think for yourself.
