Excellent follow through for buyers after fridays close. On Friday, one of my targets were 5528. We got there, then dipped. Right before the close, we got a failed breakdown of 5498 level which shot us right back up to 5528. Been basing up here since.
As of now: Hold runners if you have them. 5519, 5502 are supports. Staying above keeps 5536, 5542, 5550-55 in play. 5502 fails, sellers retest 5483 area. Sellers are still in short-term control, and will stay this way until 5550-55 reclaims. Until then, all longs shall be treated with small size and high caution. Be very aggressive with profit takes level to level in this scenario when longing.
As of now: Hold runners if you have them. 5519, 5502 are supports. Staying above keeps 5536, 5542, 5550-55 in play. 5502 fails, sellers retest 5483 area. Sellers are still in short-term control, and will stay this way until 5550-55 reclaims. Until then, all longs shall be treated with small size and high caution. Be very aggressive with profit takes level to level in this scenario when longing.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.