breakout as expected, tinted area the text book target.
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First bull flag could be a bull trap, see MACD, I will pay attention to MACD rejection, if so new lows are to be expected. if make it out crossed back bullish, it's time for bears to pack and go home.
My comments are for entertainment/educational purpose only. NOT a trade advice.
Currently in No Mans' Land. We have a breakout of an inverse head and shoulders pattern, but it stopped short of generating a MACD bullish cross. I'm skeptical that this could be a fakeout until we get the cross.
bearish as of SPY 406 on 2/17/23
currently: end bearish as of SPY 406 on 3/6/23
“…the short interest in both WTI and Brent is at nosebleed record highs and continues to rise with every passing week…”
Call it what you want, record high shorts are the recipe for a squeeze http://www.zerohedge.com/news/2016-01-2 ... -time-high
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.