Despite a very strong upward trend, I believe that today’s failed attempt to draw new high gives a chance for correction. Growth channel (blue lines), from which the breakout so far was unsuccessful can be broken through the bottom giving us a chance for a significant correction and opportunities to sell. What is worth mentioning is that the channel looks a bit like a Head and Shoulders pattern where level 113.90 would be the top of the Head and Shoulders are on the upper border of this channel.
Version for courageous – Sell now TP 111.62 SL 113.15
Version for prudent traders – Sell only after reflection from the lower band of ascending channel and than TP and SL 110.20 -112.70
