Well the last bullish looking triangle broke bearish so maybe this bearish looking triangle will break bullish. If not, I think $8,500 is on the menu. At this point I wouldn't mind seeing $8,500 so people will STFU about the fake CME paper market gap.
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This is encouraging. The 20 Week Simple Moving Average is currently around 9,062 and rising. It is very possible this helps hold up prices even if we pierce it a bit. If you have been following my charts for any length of time you know that the 20/40 Weekly moving average is a strong reason I remain bullish. I'll dig up a chart and post it under this one.
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Click on this chart and click the play button. You'll see what I am talking about. Also slide the chart to the left and look at how long the 20/40 remain bullish once they cross bullish. Like I said, very encouraging if we touch and bounce off like in the past.
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