Very hard to say. It was exciting watching the price actions...

Very hard to say. It was exciting watching the price actions yesterday, but it's probably not likely to keep going up and up without some consolidation. This is healthy though as it forms a good level of support should there be any downward pressure.

Busy chart here so bear with me.

First of all the rejection wicks highlighted in yellow all come at the top of a range. Following the previous two we saw a price retracement and some consolidation before moving up again. I think this is the most likely scenario as per the big blue wiggle.

Second scenario we keep going up, as per small blue wiggle. This argument has some merit as the close of 4.10 is above 4.00, but again the big rejection candle and not clearing that red wick from three days earlier suggests to me haven't broken out.

Other things I'm looking at, I put in a trend line based on previous lows. We are above that but it could make sense pull back to that at some point, though I prefer horizontal levels personally. Finally, the length of the rip, is a line I'd been using from right back at the start, it matched up for the run from 3.30 to 3.90, but doesn't really fit and would take us to about 4.50



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