Description
⋅ Looking at historic support/resistance and where this intersects with trend lines.
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.
Comment
⋅ If we pierce this resistance I think we are good for a break out
Comment
⋅ Breaking above downward trend line and into the launch pad. I've just entered another long.
Comment
⋅ The launch pad is playing its role.
Comment
⋅ 8612 should turn into support, so we should go up about here
Comment
⋅ 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.