Pretty tough for me to assess this chart. 1st I see a Hanging Man with long tail at R1 (not hammer).
If uptrend continues, the maroon region could be next immediate resistance @4732 which was the monthly open of March 2000. Going up further we have R2 waiting. R3 is very slim though not impossible (by then i would mortgage my house to short this index for 3-4 years). These pivots level are for Nov 2014.
Oct 2014 monthly close was seen breaking out of channel top. Any retracement will likely see price move to around 3800-4000 (blue region) which coincides with channel bottom
If uptrend continues, the maroon region could be next immediate resistance @4732 which was the monthly open of March 2000. Going up further we have R2 waiting. R3 is very slim though not impossible (by then i would mortgage my house to short this index for 3-4 years). These pivots level are for Nov 2014.
Oct 2014 monthly close was seen breaking out of channel top. Any retracement will likely see price move to around 3800-4000 (blue region) which coincides with channel bottom
