Impulse, impulse, impulse formation.
Look at the pattern- this is the text book impulse north.
And it only has began - we are now experiencing the beginning of the 3rd short term wave,
which consists out of smaller(inner) 1-2-3-4-5 impulse.
This promises an unbelievable growth 8000+.
7250 is now the most decisive region(7200-7300).
If bulls protect this level...
Big battle took place at the top of this swing up. Break out bar (bob) shows that buyers are no longer accepting higher prices and can expect price to at least retrace to the median line.
If price gets high enough to visit BOB can go short based on evidence of nobody accepting higher prices above.
Can expect a bounce of the value area on the way up as...