Short term techs

Falcon and others,

Would like your opinion on current movements which may impact medium term move. Currently there appears to be a wedge formation forming between 40 and 44, extending into a contracting tail (indicating imminent breakout in either direction). If I am correct, it has a depth of 4 (40 to 44 height), with current declining top at around 43, and rising floor at 41. Breaking top would therefore provide short term / immediate target at 47, and breaking to floor a short term / immediate target of 37 (could also consider it 36 if you think that floor is 40).

Would like your thoughts on this please.

Alternatively, the current formation is a flag indicating that the move up is 50% of the current wave. That is, the move from 26.5 to 44 (length 17.5) will be replicated by a move from breakout (say 42.5) to 60 (42.5+17.5).

Falcon - you were looking at RSIs the other day, but this flag / wedge is also neutralising those (as sideways movement always does).

Thanks in advance to any techs who can offer an opinion on this.

Brst regards