The Technical Trader’s view:
MONTHLY CHART
The market has bounced from the repeated lows at the 105 level,
and completed a Bull Falling Wedge which looks set to challenge the old highs at 124.95.
WEEKLY CONTINUAITON CHART
That wedge in greater detail.
Note too, the market racheting itself up on Prior Highs…
This is very dramatic and exciting.
The break up through the major Pivotal Prior High 120.82 was followed by a pause and pull-back but the short-term supports held and the market has rushed ahead.
Good support immediately beneath the market at 121.51.
Mark Sturdy
Seven Days Ahead
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