Price has accelerated to the TL and breached SMA200 on Monthly tf.
The 50% fib stands at 111.55 which is precisely at the Yearly Pivot R1.
It is probable that this level will be tested. The oscillator put in a
significant bearish divergence in the beginning of the year but
right now it doesn't seem to play out. Instead PA resembles the
early phase of a new large leg up with its fast move. Sometimes
though this also happens at the very top of a wave. A close above
the TL and further up the 50% fib/Yearly PR1 signals further
gains throughout the rest of the year.
The 50% fib stands at 111.55 which is precisely at the Yearly Pivot R1.
It is probable that this level will be tested. The oscillator put in a
significant bearish divergence in the beginning of the year but
right now it doesn't seem to play out. Instead PA resembles the
early phase of a new large leg up with its fast move. Sometimes
though this also happens at the very top of a wave. A close above
the TL and further up the 50% fib/Yearly PR1 signals further
gains throughout the rest of the year.