Monthly: Price action remains positive and we expect further upside. A potential reverse head & shoulders formation requires a close above $1392 to be considered. The safe haven flows underpin dips.
Weekly: An AB=CD formation has a measured move target in excess of $1450. $1300 has become a pivotal support although dips below here are expected to be short-lived
Daily: Price action broke the top of the bullish flag channel, although the gains could not be sustained. Prices stalled at the previous swing high and with higher lows being posted, the market is forming a bullish ascending triangle.
Action:
We look to Buy at $1330
Stop: A break below $1300
Targets: $1390 & $1450
