OBX index in an ascending wedge pattern, when will it break?
I have been tracking this ascending wedge pattern since early april, it is similar to the one in other major indicies.
I expect one final leg up since there is a bull-flag forming on lower timeframes, and a spike up to the 722-725 level to fill the gap (look left).
Then, if it rejects from this level (which also corresponds to 0.618 on fib), it should be able to create a bearflag / head and shoulders pattern to take us lower.
I expect one final leg up since there is a bull-flag forming on lower timeframes, and a spike up to the 722-725 level to fill the gap (look left).
Then, if it rejects from this level (which also corresponds to 0.618 on fib), it should be able to create a bearflag / head and shoulders pattern to take us lower.
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- Marcus Aurelius
- Marcus Aurelius
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