It looks to me like an inverse head and shoulders is forming the right shoulder. If that breaks out I will look for a target of high 190s, after which it could either continue higher, or finish a right shoulder on the massive head and shoulders signalling the top of the market before heading to new lows. Some bullish divergence showing in the RSI looks promising.
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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.