The Inv. H&S performed, it's right shoulder having bounced off the 100 MA .🙂 Other things being equal, we are now getting TA performing to target, suggesting we are moving into a confirmed up trend again. Note the RS switches, the continuation triangle and the 3 cycle bull pennant all performing to target...The final Bull pennant didnt quite make it, but given TA is performing, I'm confident we will see it tomorrow at 9810. The question is, wil we pull back to support first? The nice steady rise and mid consolidation suggests not....
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What a let down today was. Yesterday looked like a nice setup , yet it was down hill all the way.The suggested target of 9810 never even saw the light of day...taking a dive straight from the off. What puzzles me is the long term PD over 4 hours , that did eventually perform off 9600, has eneded up as an after hours tank to 9510..... I guess it just goes to show you can't trust TA all the time.....Strange and unpredictable times ahead I feel....
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relatively easy trading today, picking up off the bottom at around 9500 with a good exit available at 9632 on an ND top. Not a lot left after that, except for the brave....drifting slowly down to the close at 9581, exactly on the 100 MA. Again, nothing much for the 7pm traders to get hold of... We could find support on the horizontal line 9568....
