The price has broken out the previous high point already and it is moving further.
Where will the price go next?
Maybe 4400-4840 is the next target and reasons are as follow:
1.The market had a sharp fall at the 2.618REXT of previous drop and it gives a signal that 2.618REXT is a strong resistance,so next strong resistance is 4.236REXT which is at 4433 level.
2.The price jumped to 2980 level and a correction which pulled back 0.382RET happened,next 2.236REXT-2.618REXT is the following target.
3.Now the market has broken out the previous high,a potential is forming, and the completed D is at 4640 level.
In summary, 4400-4840 levels may be the strong resistance, and the market will go there.
But before the market reaches 4400 level, 3690-4000 zone is the short-term target.
So if the market pulls back 2400-2720 levels, it is a good chance to buy again.Or if the market don't pull back,just wait for another new chance.
Less is more, slow is fast!