Symmetrical triangle is coming to a head on the near term. Targets are around $300 in the directions of the break. On the upside 6500 would be more likely, while on the downside this would take us back to the trend line running through the two lows of June and August. Looking at an inverse head and shoulders on the RSI and up ticks on the ADX.
The EMAs (5,10,20) are close together on the 4 hour chart and looking for a cross. We bounced off flat bollinger bands (lowered volatility) and are currently at the median line. There is unsurprisingly a fair amount of resistance in this area as it is a prior support level, however consolidation is going well.
The EMAs (5,10,20) are close together on the 4 hour chart and looking for a cross. We bounced off flat bollinger bands (lowered volatility) and are currently at the median line. There is unsurprisingly a fair amount of resistance in this area as it is a prior support level, however consolidation is going well.
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