Clear cut up trend dating back to November 24th, running into the yellow downward resistance trend.
First confirmation would be trading above the yellow resistance trend, and bouncing up from the current support trend once again.
Ill be watching above the 545.88 retest for a squeeze into resistance at 551.05
If we break up from there i would look for support on top of the current trading channel trend line, and again above the bold longer term trend.
The bold upper trend could end up being resistance, and give us a retracement down to 551.05 as a new support.
I think the current bottom trend will continue to serve as support as we approach the retest of 573.13, and i would consider the trade idea invalid if we fall out of it.
I would use that as a region of support, and id stop out below 527.93 or further down at 522.42
First confirmation would be trading above the yellow resistance trend, and bouncing up from the current support trend once again.
Ill be watching above the 545.88 retest for a squeeze into resistance at 551.05
If we break up from there i would look for support on top of the current trading channel trend line, and again above the bold longer term trend.
The bold upper trend could end up being resistance, and give us a retracement down to 551.05 as a new support.
I think the current bottom trend will continue to serve as support as we approach the retest of 573.13, and i would consider the trade idea invalid if we fall out of it.
I would use that as a region of support, and id stop out below 527.93 or further down at 522.42