Classic Wyckoff:
A) If we manage to keep the momentum and finish the inverted head and shoulder pattern, I'd expect us to rally to around 7500. If we then form a double top, expect retracement to 6000 / 5800. (most likely scenario, in chart)
B) If we push through at 7500 and euphoria kicks in, we could go as high as 8000 - 9000.
C) If we fall back now, we might revisit support at 6800 and try again or fall straight through to 6000 / 5800.
A) If we manage to keep the momentum and finish the inverted head and shoulder pattern, I'd expect us to rally to around 7500. If we then form a double top, expect retracement to 6000 / 5800. (most likely scenario, in chart)
B) If we push through at 7500 and euphoria kicks in, we could go as high as 8000 - 9000.
C) If we fall back now, we might revisit support at 6800 and try again or fall straight through to 6000 / 5800.
Comment:
Head & shoulder forming, going to fall back.
Comment:
Other possibilities:
