The 4088.50 - 4099.00 area can contain selling through April, above which 4267.00 - 4276.50 long-term resistance remains a 2 - 3 week objective able to contain buying through Q3, and a significant upside pivot point through the balance of the year.
A weekly settlement above 4276.50 should mark the resumption of a long-term bull market, anticipating a retest of the 4808.25, January 2022 high by the end of the year, and onto new highs within a full year of activity.
Downside, a weekly settlement back below 4088.50 allows 3855.00 - 3880.75 over the next 3 - 5 weeks, able to contain selling through May - once tested the market positioned to then reach 4275.50 long-term resistance over the following 3 - 5 months.
-
For Monday, the 4088.50 - 4099.00 area can absorb selling through April, above which 4267.00 - 4276.50 long-term resistance remains a 2 - 3 week objective able to contain buying through Q3.
Upside Monday, 4214.75 can contain session strength, while closing above 4214.75 indicates the targeted 4267.00 - 4276.50 region within 2 - 3 days, where the broader market can top out through Q3.
Downside Monday, breaking/opening below 4088.50 signals 4057.00 intraday, able to contain weekly selling pressures and the area to settle below for pivoting the market South into later April, then expecting another test of 3855.00 - 3880.75 long-term support within 2 - 3 weeks.
A weekly settlement above 4276.50 should mark the resumption of a long-term bull market, anticipating a retest of the 4808.25, January 2022 high by the end of the year, and onto new highs within a full year of activity.
Downside, a weekly settlement back below 4088.50 allows 3855.00 - 3880.75 over the next 3 - 5 weeks, able to contain selling through May - once tested the market positioned to then reach 4275.50 long-term resistance over the following 3 - 5 months.
-
For Monday, the 4088.50 - 4099.00 area can absorb selling through April, above which 4267.00 - 4276.50 long-term resistance remains a 2 - 3 week objective able to contain buying through Q3.
Upside Monday, 4214.75 can contain session strength, while closing above 4214.75 indicates the targeted 4267.00 - 4276.50 region within 2 - 3 days, where the broader market can top out through Q3.
Downside Monday, breaking/opening below 4088.50 signals 4057.00 intraday, able to contain weekly selling pressures and the area to settle below for pivoting the market South into later April, then expecting another test of 3855.00 - 3880.75 long-term support within 2 - 3 weeks.
Anthony Speciale, founder of Speciale Analysis offers an affordable approach for all traders to grow into their highest potential.