A strong way to cap the week. While this week's mkt activities may be a bit slow for some, nevertheless the market is scaling higher one small step at a time.
Technically, this week is considered a breakout case, meaning the mkt decided to take the north direction after more than 1 month of consolidating within 1160-1180. Bullish.
Nobody knows “exactly” the mkt future direction. But if one wants to trade, it’s about making assumption. This so-called assumption is packaged with a condition/premise that hold it together. If this condition(s) is/are violated or no longer valid, then re-plan, adjust etc Condition/premise varies individually.
The condition for the current uptrend is to see 1190-1200 support stays. If so, upside target is 1240.
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