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Tuesday, November 15, 2011

Will the TF see 900.00?

What a trendless mess...price on the TF is precisely here (see 4-hour chart below)...where to next? I don't know, except I'd say that 737.00 and 746.50 are important levels in the short-term...if price can make it above 746.50 and remain above, we could see price test 781.00ish or higher. If price falls and remains below 737.00, we could see a return to 691.00ish, or so.

It appears to be forming a large upward-sloping IH&S pattern...if it is, and if it plays out, the potential target is around 900.00ish...160.00 points above its current level.