Looking for continued consolidation within this zone above 46, and a retest of the range highs. This would confirm a partial decline and statistically favor a breakout of the range.
Id look at this as the sign of strength, as we have diverged from the bear market downtrend, made a new high locally after a second higher low, while maintaining support above a historical inflection zone .
Above 55, id look for a pause at 65, and then continuation to 78 for the 1618 extension, and 89-98 for the measured move and equilibrium.
Id look at this as the sign of strength, as we have diverged from the bear market downtrend, made a new high locally after a second higher low, while maintaining support above a historical inflection zone .
Above 55, id look for a pause at 65, and then continuation to 78 for the 1618 extension, and 89-98 for the measured move and equilibrium.