Unlike the last flag, we're not going to bang our heads against the psychological 4000 for long. Either we bust through and sail on to the next resistance, or people are going to start selling into the weakness and we'll head back to the prior pivot where we last accumulated.
The bullish scenario sets us up with a higher high, and a potential for more legs up.
With the bearish case, that lower high could eventually take us back down to retest the sub-3400 lows.
The bullish scenario sets us up with a higher high, and a potential for more legs up.
With the bearish case, that lower high could eventually take us back down to retest the sub-3400 lows.