Qantas facing a lot of resistance at 6.45.
This historical resistance was established in October 2007.
If we managed to break 6.45, expect free run to 7.60. Otherwise fall back support level at $6.05 then we re-assess from there.
This historical resistance was established in October 2007.
If we managed to break 6.45, expect free run to 7.60. Otherwise fall back support level at $6.05 then we re-assess from there.
Note
Decision decision decision...
QAN went into a symmetrical triangle and is now being squeezed at the tip. I see we have a bit - really just a a bit - of steam left to try for $6.45 again.
If we fall, we might go to $6.05.
Note
I have a feeling that Qantas has completed Wave 5. It is losing steam and volume. Slowly creeping down.
If this is the corrective wave ABC, then it seems like C which is longer than usual might be the Wave 3 of an impulsive wave down.
Take note.
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Revised target update.Let's try for 6.45 again BULLS!!!
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If we break out of the ascending triangle, let's aim for $7.
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Looking good.Note
If we close above the ascending triangle today, expect to go long to Target 1 (remains).
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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.