Wednesday 3.08.23 Review : Consolidated under previous Daily Support with a few attempts to break 3976-71 Key Intraday Support but we held within this 4015-3975 balance. Best trade was when we hit double top in E 11:30 Period, gave a nice trade down to Intraday Support, was thinking we fill finally have more supply to break and continue but so far that has not been the case which tells us its controlled mark down selling with stops at good support areas.
Thursday 3.09.23 Prep : Will see continuation lower today or do we have enough to again hold and maybe even push higher? We have been holding under Previous Daily Support of 4012-3990 for two days now with Supply trapped above. We are looking like we could see more selling today as we are at the T2 and Previous Day Lows, under Previous Daily Support, have Supply above and have this nice sideways action to built up, 3976-71 is again our Key Intraday Support to watch as that is the area we need to take out and accept under to see a move towards next potential Support to see what we do there. If we do hold Intraday Support or bounce from 3957-53 area and get back over 3976-71 then we could see more balancing action in this 4025-3976 range, 3995-90 is our Current Resistance and 4012-08 will be our Key Resistance today.
Levels to Watch
Resistance : Daily 4012-3990 Key Intraday 4012-08 // 4030-25 Current 3995-90
Support : Daily 3915-3890 Key Intraday 3976-71 // 3957-53
Thursday 3.09.23 Prep : Will see continuation lower today or do we have enough to again hold and maybe even push higher? We have been holding under Previous Daily Support of 4012-3990 for two days now with Supply trapped above. We are looking like we could see more selling today as we are at the T2 and Previous Day Lows, under Previous Daily Support, have Supply above and have this nice sideways action to built up, 3976-71 is again our Key Intraday Support to watch as that is the area we need to take out and accept under to see a move towards next potential Support to see what we do there. If we do hold Intraday Support or bounce from 3957-53 area and get back over 3976-71 then we could see more balancing action in this 4025-3976 range, 3995-90 is our Current Resistance and 4012-08 will be our Key Resistance today.
Levels to Watch
Resistance : Daily 4012-3990 Key Intraday 4012-08 // 4030-25 Current 3995-90
Support : Daily 3915-3890 Key Intraday 3976-71 // 3957-53
Comment:
Failed over 4012-08, Holding under it can bring more weakness, IF we can continue and take out 95-90 that opens the door for Key Intraday Support test and spot to watch for continuation unless we hold here and push over again to continue higher
Comment:
Key Support out, Next Daily Support is 3915-3890 IF we take out 3957-53 and if enough volume we can try to reach it and maybe look below?
Comment:
I wouldnt be trying to buy longs right now, just because we didnt have Margin Call selling before doesnt mean we wont today we are under Previous Day and T2 references and now Under Daily Resistance with supply trapped over 4000