Grabbed a segment off the weekly for the near-convergence scenario stated in post 11/21.
Wild shot in the dark, but we may be nearing the end of a condensed and similar cycle pattern (see note below).
As long as support holds and weekly MACD avoids convergence I'd expect a breakout roughly EOW.
*** Current cycle pattern could also be seen as an ascending triangle with resistance around 4350; I don't believe the 11/20 price action was enough to break trend.
Wild shot in the dark, but we may be nearing the end of a condensed and similar cycle pattern (see note below).
As long as support holds and weekly MACD avoids convergence I'd expect a breakout roughly EOW.
*** Current cycle pattern could also be seen as an ascending triangle with resistance around 4350; I don't believe the 11/20 price action was enough to break trend.
