The weekly chart shows a flat corrective pattern completed so the medium term bias is higher to at least 2000-2070 area
Flats can resume a trend, but they can also morph into complex sideways structures which can whipsaw many traders
such as double or triple threes...
These chop trend traders and also range traders alike as they spike all of the usual spots people are trained to have their stop losses....
A live example of when a flat extended out into one of these complex structures can be found in the linked idea on an Australian insurance company QBE
Flats can resume a trend, but they can also morph into complex sideways structures which can whipsaw many traders
such as double or triple threes...
These chop trend traders and also range traders alike as they spike all of the usual spots people are trained to have their stop losses....
A live example of when a flat extended out into one of these complex structures can be found in the linked idea on an Australian insurance company QBE
