|Mini Russell Anchor CHart|
We begin to work with the Mini-Russell this morning and the anchor chart shows us a sideways-trading-range in the long-term trend and a short-term trend that is bullish. It’s hard to call this bullish because we can see the trading-range very easily. We can see a price-wedge and this opens the possibility of a fake-out-breakout at the highs and a possible price-reversal and selling-opportunities off the highs today with a selling profit-target at the lows of the price-wedge at 1061.8.
We dig into the VIP chart a little further this morning and we see the opening-print was very bullish and we have a recent 15-minute candle that is about to close, telling us to buy pullbacks with the next entry opportunity we see.