We had a break of the descending resistance line to the upside.
I'm watching this well-formed arc to provide resistance at 141.
If it fails to break through, I'm watching for a long downtrend into mid 2023 towards 126.
Longer-term, I'm still looking for 200+ as the dollar continues to suck power from everything weaker.
Good luck, enjoy.
I'm watching this well-formed arc to provide resistance at 141.
If it fails to break through, I'm watching for a long downtrend into mid 2023 towards 126.
Longer-term, I'm still looking for 200+ as the dollar continues to suck power from everything weaker.
Good luck, enjoy.
Comment:
OK it has broken through the first resistance to 138. Now gunning for the recent high of 139.30. 141-142 in September is coming, after that it will need a thrust of strong buying momentum to go any higher.
Comment:
Almost to my target at the top of the arc.
Breaking over 140 has become huge worldwide financial news and there is a lot of talk about going to 150+ in short order.
I want to see it break this arcing pattern first, with the weakening higher highs. A break of that would be confirmed at around 144. In that case the arc would be broken and the sky is the limit.
However, since I am heavily in the money on this, I've already started rebalancing into a yen position.
Breaking over 140 has become huge worldwide financial news and there is a lot of talk about going to 150+ in short order.
I want to see it break this arcing pattern first, with the weakening higher highs. A break of that would be confirmed at around 144. In that case the arc would be broken and the sky is the limit.
However, since I am heavily in the money on this, I've already started rebalancing into a yen position.