Weekly Chart

Pattern – an uptrend is clearly in force and the action since the January 2018 looks corrective in nature. I believe this corrective phase still has more time to play out. Price made a low yesterday at 24084 and while we may see that level tested I favor it to hold for the time being.

Bollinger Bands – price is now back at the middle band I favor support to come in here and send it back to the upper channel for one final downside test which sees price hit the lower band. A move straight down to the lower band is certainly not out of the question and if that were to occur then it probably means the next leg higher will commence earlier than expected.

Fibonacci – price recently found resistance at the 23.6% angle and I favor price to have another crack at that resistance before being rejected once again. If that is to occur then I will be looking for a solid test of support from the 38.2% angle before price begins a new upleg.

Horizontal line – denotes the April 2018 of 23344 and price breaking this level, or at least closing below it, will likely mean I am wrong about the next leg commencing. I do favor price to give this level a good test however with price turning back up above it, thereby creating a higher low.

Moving averages – in a very bullish position.

RSI – currently weak given the recent move down.

Monthly Chart

Pattern – a big bull trend is at hand, obviously.

Bollinger Bands – the price has been finding support at the middle band, just above it in fact, and I believe a more solid test of this band will be seen before the major uptrend continues. I suspect this test will come later in the year.

PSAR – the dots are currently above price indicating a bearish stance. I favor price to take out these dots, which currently stand at 26125, before reversing back down and giving the dots on the downside a test.

Fibonacci – the 23.6% angle has provided support and I believe the price will eventually give this angle another test which may see price dip marginally under it.