seems possible. as you say. climbing the steps through the resistance . Right now, IF this 17.50 does hold support, I'm wanting to see a good rally that targets at least 22 area. 23 would be stronger. There has to be enough of a strong rally that gives it some room for the pullback to hold a support shoulder zone like 20 could become. So its a rally from 17.50 to lets say 22.50 and then pulls back to hold at 20 area. This is a Fib arc chart to target 30. The first rally needs to reach the key 22.25-23.25 area, and hold any pullback around 20 area. Constructing a track pattern rally to 30
It feels like a tricky time to watch carefully the price action now, this zone of resistance and support between 17.50 and 18.75 call that the support area now, but resistance overhead is every step from 19.50 to 23. Alot of resistance at 20-21-22 area to watch. IF we get a good continuation with a renewal of bullish momentum, that takes price strongly to 23 then I'm looking to watch that 20 shoulder zone try to hold as a support. right now, its a resistance step. That would be the bullish turn around if we get the rally to 22-23 and then 20 holds as support. all this wont likely happen tomorrow but for next week ,if the rally continues. But tricky now to watch because it could go either way up or down when the next big target gets hit at 20 area, the 50 ma might be a trigger to watch. around 21 area. and the 20 ma is happening now today. heading into resistance cloud
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