The market is moving along the upward channel after the US Election and historic highs have been reached.
Where is the final top we cannot guess but a important resistance will be confornted next.
The 1.618EXT of the US Election fluctuation is the first resistance and the market had stopped and struggled at that level;now the 2.236EXT is the second resistance which will be faced and the market has slowed the rate of rise.
So it is good to sell at 2372.2 levels when price action gives the signals in the PRZ.
SL:above 2375
TP1:2340
TP2:2300 and further more
If the market breaks out the 2372 level,2430 will be the next target.
Where is the final top we cannot guess but a important resistance will be confornted next.
The 1.618EXT of the US Election fluctuation is the first resistance and the market had stopped and struggled at that level;now the 2.236EXT is the second resistance which will be faced and the market has slowed the rate of rise.
So it is good to sell at 2372.2 levels when price action gives the signals in the PRZ.
SL:above 2375
TP1:2340
TP2:2300 and further more
If the market breaks out the 2372 level,2430 will be the next target.
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