Seol Composite

15 Mar 2017 ‚óŹ 06:36 AM

The Seol composite has spend 6 years forming what now looks like a triangle. No new highs but all within a range. Frustrating market for those out there. Prices are close to the upper end again near 2161. If wave E is an expanding triangle as shown then this is the last push up towards the upper line. Once we get a price reversal it should be a big one for this chart. On the other hand you can argue that this is a consolidation range and about to breakout on the upside. The trendline of the 2007-2011 highs goes as far as 2500. On quarterly charts momentum is near zero and Bollinger bands have contracted sharply so a big move either way is due. Right now the momentum is on the way up so we should be open to taking out the 2161 level and going to 2500 as well. 


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