Price finally hit my 4705 to 4710 target zone and this is resistance of the perfect purple parallel channel shown below. Note that just above here is also resistance of the white parallel channel which is around 4720-25ish. When two resistances are close like this they often form a zone where the price could overthrow the lower into the higher. Generally though, this is the pullback zone if its going to happen. Any higher than the white channel res at 4725ish and we simply continue to melt up.
Downside targets shown below and are 4675, 4655 (strong, would buy this), then 4630. Bears need to actually lose 4630 to see any real sustained follow through. I would encourage people to begin drawing these lines themselves and start the process of learning to replicate them
Hi Adam new subscriber here and thanks for all you do! Will you ever post here how you go about placing your trendlines and what rules you follow when placing them?
Happy subscriber here. Thank u adam