- Daily chart shows a consolidating triangle.
- Upside break of triangle (probably requires a close above 1250) should target somewhere around 1320.
- Whilst long term target remains 1377-1479, it might make sense to book some profits if the shorter term triangle target of 1320 is reached (especially given that our average long-in price is 1097, would have been quite a decent run by then).
1 comment:
Taking a little too long to break 1250. Apex of triangle is approaching fast. I do not like breaks that occur too close to the apex often negating the classical triangle interpretation. Will reassess soon.
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