This is a text-Book break out, and it's holding for more than 3 weeks.
1/If you are bullish, and only use this as an entry, well John Murphy is telling you it is going up. Just wait for it tto reste blue line !!
If you are Bearish, just wait for it to retest the lines in Blue, if it's failed to hold borrow all the money in the world you can borrow and short this market like no other short : -) ( just kidding do not take that big risk i could be wrong)
Either way, i wish you all the best.