The count is Bullish , we are currently testing resistance at 0.382 FIB. We broke out of the symmetrical triangle at 11,450-11475 which was a strong resistance established since June 25th now turned into support. Falling below the 11,450 level invalidates our bullish count. As long as we Maintain this level I will be bullish and we should test 0.618 FIB at 12,700. We might be going for a double top at 0.618 FIB as we got rejected strongly last time or maybe some other structure we don't know. If you look at higher time frames MACD is making higher high's which is considered bullish.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.