Another 200-500 moving channel daily. For this one, the monthly's have been consolidating inside for the previous four months. The move out of this range should be at least the size of the largest of the four inside bars; in this case about 1.00. Overhead is also the annual pivot. Stop out on a monthly close below the low of the last close of the four bars or, alternatively, 0.50.
Comment:
Minimum target reached. Small reaction in the 3.22 area as expected. 4 looks reasonable on a break above that. Weekly squeeze only two bars in presently.
Comment:
Taking half off. Would not be surprised to see continuation however. YMMV