US100: Possible Breakout

US100, H4

In the H4 timeframe, US100, after a short-term decline, broke the trend line and consolidated near the Fibonacci gold pocket. Despite the breakout and strong bullish sentiment, Stochastic shows overbought.

• If the bulls push the price above 19500 resistance, the 20100 level will be the target;

• However, if the price bounces off the resistance, it will reach the support at 19000 and then go up;