Sideways action continues as we look to hold above the initial triangular pattern (blue); two green trendlines have been added to show new (expected) support zones.
Using these lines we can assume both an ascending triangle or cup-and-handle formation with 1200-1250 remaining as neckline.
For the later scenario, an immediate dip would need to occur to either green line although the bottom one would align better imo.
Using these lines we can assume both an ascending triangle or cup-and-handle formation with 1200-1250 remaining as neckline.
For the later scenario, an immediate dip would need to occur to either green line although the bottom one would align better imo.
