As discussed yesterday morning we got our pull-back, however I was a bit off when it comes to the targets I was looking at. Initially, I thought we'd get held up a little more substantially at those fib levels that I've outlined in white.
We did anticipate, on Tuesday night, that 12k would be difficult, as a phycological level as well as an area of significance for PA. If you just have a glance left, you'll know what I mean by this.
We find ourselves back at this, broken, battered Demand which is 11250. This level is toast, to say the least. there is a level under it which is of higher quality & this in my opinion would be the area I'd be looking towards for a little more of a substantial hold up.
We still could very much be ranging between 11k & 12k, but if you have a look at the 1D, there is a slight formation & we've just printed that right shoulder. I've seen this a few times now, I must admit though, it's a little skewed so take that as you will.
I think we're in for a bit of relief here before heading to 11k for a decision on if we're going to hold or close that gap at 9.6k
Have a great day!
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