The rally continues again today. This thing went from so oversold to suddenly very overbought. My guess is that the upside target may be the range resistance on the daily chart. With prices so overbought, we might get a correction first, but that appears to be our next target to the upside. After that, we are looking at all time new highs again, so it is anyone’s guess from there should prices continue on higher.
The bias is up at the moment, although we are seeing some mixed trading along the way, so keep that in mind and stay focused and disciplined. With the market so overbought, a wild correction would not be out of the question, but it is not a given either. Stay with the uptrend as long as it remains in play.

