DislikedThat I believe is true except, looking at the weekly chart shows that week was a rejection of the lows in that ranging market.
This confirms an overall upward trend to be continuing. So putting the two together means that an upward trend is continuing but the next resistance may be where the bulls end.
I find that trend lines can be misleading even though they obviously work, and so I use highs and lows as the major contributor to my own analysis.
But in the absence of many highs and lows trendlines are highly valuable. With that in mind,...Ignored
Aside from technical analysis my feeling is the same that it will drop on the beginning or middle of the next week.
Ok, but from where would you initiate a short position? Technically I do not see any sign of reversing. It is out of the price channel I drew (although I know that lines do not have much emphasis). I think it won't run away so fast and I hope I can get on the right time.