Looks like 240 is incoming, most likely this move comes with a cool Core PCE this Friday and if not then, then most likely on next month job numbers .
Weekly trendline resistance from 2010 has resistance at around 240ish.
That's only another 3% upside
In an extreme move we could see price momentarily push above 240 and tag 245
From 245 I can't see price heading higher going into Seasonality of Sept.. so I'd be looking for a top signal above 240 and a correction from there to 210.00
Here's the price action from April lows..
Simple channel..
I don't think we tag support again until 240 is tested, we could just grind mid channel all the way back to ATH like that Green circle of price I highlighted.. let's see if we get more of a dip towards 230-232 before Friday's core pce , IMO that would be the entry for a final leg up.
Weekly trendline resistance from 2010 has resistance at around 240ish.
That's only another 3% upside
In an extreme move we could see price momentarily push above 240 and tag 245
From 245 I can't see price heading higher going into Seasonality of Sept.. so I'd be looking for a top signal above 240 and a correction from there to 210.00
Here's the price action from April lows..
Simple channel..
I don't think we tag support again until 240 is tested, we could just grind mid channel all the way back to ATH like that Green circle of price I highlighted.. let's see if we get more of a dip towards 230-232 before Friday's core pce , IMO that would be the entry for a final leg up.
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