2/3 CME Gaps Now Closed - On track for 8860-8880 Top
As per my previous analysis; we have now cleared the red CME gap. We will likely retrace to around 8550-8600 levels and range sideways before we hit the very top somewhere around 8550-8600. From here it is SHORT SHORT SHORT!
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Potential small head and shoulders forming. That will take us to 8550. 50EMA / 50MA are expected to be around 8485 at the time the pattern completes so could see a wick down to these levels. This is not 100% going to occur, but something to keep an eye on and supports my original view of a retest of these levels before we hit the top.
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Small head and shoulders didn't play out. None the less the top has now been reached and we are SHORT!
