In order for the uptrend to remain intact, price would need to hold above the $83 level as support. However, because the moving averages on the ichimoku are really spread apart, it tells me price needs to snap back to equilibrium before a continuation of the uptrend.
I think it's likely that price move back to the $75 range before a continuation of an upside move.
I think it's likely that price move back to the $75 range before a continuation of an upside move.
Note
It might take until the Feb 7th pivot to turn down. I'm accumulating puts up at these levels.
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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.