The ostensibly bearish pattern shown never even got close to the midpoint support during recent sessions, implying that bulls will be ready to romp as the new week begins. The uptrending ABC pattern at the right-hand side of the chart has already triggered a buy signal, but the pattern has little value predictively because its ‘D’ target coincides with mid-June’s highs. Camouflageurs may be able to leverage a 1635.50 peak made June 19 on the way down, but it’ll require zooming in on a sub-hourly chart to make the peak display properly.
