In my opinion, this formation looks too good to be true, which usually means take the opposite trade. But I wouldn't do anything until a breakout either way is confirmed. A strong breakout from the 22500 level would also have the black trendline overcome, but if it does I would think the next likely stopping point would be closing the gap at 23,500, and then the next gap at 25,400 (not saying its going here).
As i said before, this looks too perfect. It screams of a bull trap.