This has now been completed. So Wuey as you can see in the chart below, the volume hasn't come in so far so no major volume = no major moves. But overall we are seeing higher lows and a steady grind higher.
The 13 ema is above the 50 ema which is above the black rising support line and they are all pointing in the same direction which means everything is in the right place.
It's very difficult to place time frames on things, but sometime between now and where the black trend line and red breakout level intersect, maybe something happens maybe not.
It may need to further tighten up. Which means it may need to dip below 12 again each time momentum runs out and it needs to take a breath in preparation for the next push. But the positive is that the dips keep happening at higher lows due to the larger trend.
I will be watching volume more closely than price.
(20min delay)