The daily chart had been in a 2 mo trading range(TR) following the big bull breakout day on Dec 3. We have a breakout now that hit target 1 (2x the trading range measured move) - Bulls see this as follow through on Dec 3 and will need a bigger push to convince that we are in a bull trend -- the 2 day breakout looks good and strong enough that we should expect additional bullish movement - however may get a pullback to 50% area of this break above the TR first. Bulls are targeting prior highs of 1.15 and 1.17 - I have a conservative target of 1.13 with the next push from this pullback.
Commento:
The blue line was supposed to be at 1.1038 not sure what happened there..