240
Coming up on significant weekly technicals - watching for reaction. Positive pressure remains strong. Note movement between the purple dashed and thick blue dashed Fib extension levels - the market appears to have been following these nicely - they offer technical trigger considerations for entries and targets, stops.
60
Here we can see the recent lift moving with a contracting wedge (black). Watching for lift to continue within, wedge support offers entry opportunities if the market lifts from it again.
Breaking down out of the wedge would be a warning that the current lift is changing; lifting up through the top of the wedge resistance would indicate increased velocity and more lift.
Daily
Current lift coming up on Weekly resistance - would expect a pullback to some degree at one of the approaching Fib levels. Strength can still be seen, positive pressure continues.
Weekly
Lift off 34ma has been as expected, next resistance can be seen (blue trend line); after this the pink UBB is the next target to look towards - note it is moving, falling.
Yellow boxes show lift potential if it is equal to previous lift off the lows.
Watch for reversal, potential end of lift - potential for a steep drop when it is complete. Note however this may not occur until we reach the larger channel resistance - next blue trend line above market 1/2 way in chart. Lower time frames can identify patterns / turns quicker - mind them as we approach significant technicals.
