The 4055.75 - 4065.50 area can contain selling through May, above which 4241.50 - 4252.25 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 4252.25 should mark the resumption of a long-term bull market, then anticipating 4500.00 within 3 - 5 weeks, 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 4055.75 signals 3927.50 over the next 2 - 3 weeks, able to contain selling into July activity.
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For Monday, 4180.50 can contain session weakness, above which 4241.50 - 4252.25 remains a 3 - 5 day target able to contain buying through Q3, once tested the market prone to bearish rotation into June / July.
On the other hand, a weekly settlement above 4252.25 indicates a good annual low, 4500.00 then expected within 3 - 5 weeks, the 4808.25, January 2022 high by the end of the year.
Downside Monday, breaking/opening below 4180.50 allows 4116.25 intraday, while closing today below 4180.50 will keep 4055.75 - 4065.50 in reach within the week, able to contain selling through May and above which 4252.25 long-term resistance remains a 2 - 3 week objective.
A weekly settlement above 4252.25 should mark the resumption of a long-term bull market, then anticipating 4500.00 within 3 - 5 weeks, 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 4055.75 signals 3927.50 over the next 2 - 3 weeks, able to contain selling into July activity.
-
For Monday, 4180.50 can contain session weakness, above which 4241.50 - 4252.25 remains a 3 - 5 day target able to contain buying through Q3, once tested the market prone to bearish rotation into June / July.
On the other hand, a weekly settlement above 4252.25 indicates a good annual low, 4500.00 then expected within 3 - 5 weeks, the 4808.25, January 2022 high by the end of the year.
Downside Monday, breaking/opening below 4180.50 allows 4116.25 intraday, while closing today below 4180.50 will keep 4055.75 - 4065.50 in reach within the week, able to contain selling through May and above which 4252.25 long-term resistance remains a 2 - 3 week objective.
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