Marblepond

Marblepond

This week I would expect a re-test of some support areas, there is a lot IMO unfinished business lower down. On a 4 hour chart the RSI is very extended to the upside, So a reset can't be far away, the momentum is also slowing to the upside, we have also crossed below moving averages which may need a test from below, but that is natural, a rejection is what I would...

Marblepond

Two possible areas of interest, one is 4483.50/4489.50 this is a naked weekly zone that really needs testing, as in my opinion there are still a fare amount of longs trapped. the second area is 4410.00/4421.00 this area has been tapped, but needs further testing it is a Monthly zone, below that is a further naked weekly zone. That area interest me the most as I...

Marblepond

In my opinion we are either going into a range above 4380, or take a dive lower into 4350 area. So the only thoughts I have are to trade from a small day zone at 4388.00/4391.00. I am on the range/consolidate mindset, but it should give us a good insight whatever happens for rest of week. Note both side have a Week area (light blue) that have not been tested.

Marblepond

We are in a very interesting predicament. 1) We have travelled the whole length of Value, of a Volume Profile starting at lows of Thursday 8th to highs of Friday 16th. 2) This ride to lower Value was stopped dead in its tracks by a Low Volume Node directly below us (4370.00/4380.50) that was no coincidence, the bulls in my opinion are aware that Node is there...

Marblepond Updated 

The bulls must be tired, after last weeks run through resistance zones. My thoughts are that they may need to explore lower, to reinforce/turn the resistance into support areas. They are likely to start their journey by seeing if they can take out any short stops, and test a naked day zone, 4477.75/4473.25. If they can't pick up any momentum they will probably...

Marblepond

If the market can't breach and hold above 4429.75/4423.75. Then 4371.00could be a possible target.

Marblepond

Last weeks and Fridays Support as held, should test ONH.