Two playout can happen in this setup..
Weekly Trend is broken:
Most breakouts usually pullback to test the overall TL before a continuation in the bias direction..
If the 149.50 level holds, than the 155-156 area will be tested again at the overall trendline.
If the PA failed to come back into the overall TL than the fib levels will be tested one fib at a time..
Meaning down she goes KABOOM!!!!
IMHO
Weekly Trend is broken:
Most breakouts usually pullback to test the overall TL before a continuation in the bias direction..
If the 149.50 level holds, than the 155-156 area will be tested again at the overall trendline.
If the PA failed to come back into the overall TL than the fib levels will be tested one fib at a time..
Meaning down she goes KABOOM!!!!
IMHO
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