Ford in High-Level Congestion

All of the action in Ford (F) this week argues that the stock is carving out a high-level congestion pattern that should resolve to the upside in a thrust to 9.00/25 next. At this juncture, only a decline that breaks the recent pullback low at 8.17 will morph the congestion pattern into a deeper correction that projects to 7.85/75 prior to the emergence of another upleg.