Monthly chart
Bullish from symmetrical triangle if confirmed on March 31st would signal continuation of the rally from 2013 lows.
On the upside, we see resistance directly at 9728 (127.2% Fib extension).
The monthly RSI is well short of the overbought territory, hence, there is little reason to worry if we get a bullish breakout confirmation on March 31
Bearish scenario: Failure to hold above current month low of 8860.10 would open doors for a sell-off to 8616 levels.
Bullish from symmetrical triangle if confirmed on March 31st would signal continuation of the rally from 2013 lows.
On the upside, we see resistance directly at 9728 (127.2% Fib extension).
The monthly RSI is well short of the overbought territory, hence, there is little reason to worry if we get a bullish breakout confirmation on March 31
Bearish scenario: Failure to hold above current month low of 8860.10 would open doors for a sell-off to 8616 levels.
