I know there is a gazillion of TA indicators saying we 'have to" revisit 5-8k levels, or at least go briefly below 10k. TA rules are not the laws of nature, though, just useful tools to analyze eternal struggle between bulls and bears. I think this balance has shifted slightly, but importantly toward bulls recently. On the last sell-off, despite all of the Korea FUD, the volume was low, and the bounce back healthy. I think this move up would continue above the top of the current triangle, which upper limit is connecting 19k top and 17k top. This is an extension of my analysis published yesterday, where I called trend reversal early on
Happy trading and holding :)!
Komen:
Bullish Mac cross-over on 4h chart gives further support to up-trend.