Will Qantas break the $6.45 resistance established 10 years ago?

Qantas facing a lot of resistance at 6.45.
This historical resistance was established in October 2007.

If we managed to break 6.45, expect free run to 7.60. Otherwise fall back support level at $6.05 then we re-assess from there.

Kommentera:

Decision decision decision...

$QAN went into a symmetrical triangle and is now being squeezed at the tip.

I see we have a bit - really just a a bit - of steam left to try for $6.45 again.

If we fall, we might go to $6.05.

Kommentera:

I have a feeling that Qantas has completed Wave 5. It is losing steam and volume. Slowly creeping down.

If this is the corrective wave ABC, then it seems like C which is longer than usual might be the Wave 3 of an impulsive wave down.

Take note.

Kommentera:

Revised target update.

Let's try for 6.45 again BULLS!!!

Kommentera:

If we break out of the ascending triangle, let's aim for $7.

Kommentera:

Looking good.

Kommentera:

If we close above the ascending triangle today, expect to go long to Target 1 (remains).