Over the last few days we have managed to stay above our trend line and also now tend to be fiddlin with the neckline of the juicy inverted head and shoulders!
Although i am expecting a 12k Test again soon... here are my thoughts for the next day or so!
12k was my next target prior to a minor correction BUT, volume seems to be slowing down and our RSI is all fairly central at the moment. Unless volume pumps i am starting to doubt we will even get to 12k before a small correction .
i say SMALL correction, because if we are to go back into the trend line things can get pretty ugly and fast. In order to stay bullish we must stay above the trend line even if this means using the previous resistance for some cheeky support.
Still however i reckon the bullish play is happening, with our inverted head and shoulders playing out soon.
Target still sitting at 19k for that.
Legal Disclaimer: I have no idea what I'm doing and I'm not telling you to follow me or make investments based on this information, this is just my thoughts and ideas and what ill be following. Happy Trading!!