Looking at historic support/resistance and where this intersects with trend lines.
Using these locations to speculation on where the market might pivot.
Using these locations to speculation on where the market might pivot.
Comment:
Ranging closer to the pivot I've drawn. I'm expecting an impulse up or down in the next 1-2 weeks.
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If we pierce this resistance I think we are good for a break out
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Breaking above downward trend line and into the launch pad. I've just entered another long.
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The launch pad is playing its role.
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8612 should turn into support, so we should go up about here
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So we are still watching 8612. If we break past it, our target is in the high 9,000's
Comment:
Based on this chart, 7800 is a likely bounce. But if 8300 bounces, 8612 is where to watch.
