S&P ASX 200 ripe for another strong rally!!!

The S&P ASX 200 index has shown a strong positive trend according to Weekly charts. A rising wedge patter is close to break at the 2/3^rd of its completion and this level is at 5410. The Fibonacci retracements shows that there is strong resistance at 5480 which is where a gap lies and should be filled according to the GAP theory. The prices have been in a consistent uptrend for the past 9 weeks shown by the parallel uptrend channel. A break in this channel will lead to a surge till 5560 and then subsequently 5680. Hence, 5410 is a key level and a close above that level for 2-3 trading sessions will lead to rally till 5680 in the coming sessions.