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After a larger triple bottom on the weekly completed we now have this uptrending market from a reversal. I can see this continuing being supported with a lovely up trend and a trending well market using support and resistance on its way to the upside.
bull move due to previous resistance becoming support. supporting previous trend line. 618 fib bounce.
618 fib bounce. bearish overall trend. previous support becoming resistance highlighted in the blue box. break of the reversal pattern followed by small correction on smaller time frame. first targets looking for the bottom of the pattern with possible extended targets if all goes well
with a larger outer structure broken bullish as we would of expected we have formed a lovely reversal pattern here at a support / resistance area looking to get into this trade long.
inverse head and shoulders also looking to be supported by the 100 moving average for a move to the upside.
From what i can see we have simply had a previous impulse, followed by now our correction phase. from previous swing high to swing low our correction phase is looking to bounce from the 50% fib which also lines up with our triple top reversal and also a previous support line looking to become a resistance area highlighted in the green box with the blue line within ...