$IYF Day chart shows price is taking out a previous high of 94.18, due to expansion there’s a suggestion of stalling or a pullback into support and the initial pullback target is 94.18 but price could come back to 91.81 or even 89.45.  Whether there’s a pullback or not, if price can hold above 94.18 the red zones are harmonic pattern targets aka PRZ’s (Potential Reversal Zone).  These zones offer a magnet pull to them as well as a probable rejection region however they are considered targets until price action proves deemable for a reversal scenario.

There is some convergence at an ABCD pattern target at 96.59 so this implies conviction needed to hold above there to increase the probability of reaching the higher targets.  So a long position could take some profits or protect profits at the 96.59 area.

The bias is up but as said above, there’s indication of needing to balance out between buyers and sellers, so don’t be taken off guard if there’s a stall (chop) or pullback.  The bias remains in tact as long as (even with pullbacks) that 89.45 holds as support, below there would risk shifting the bias to neutral with a downside pull.

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