Technical Analysis and Outlook
The Spooz, in choppy trading this week, managed to obsolete our outstanding target area - Mean Res 4126. The re-establishment of an upward trend will aim to obsolete Mean Res 4145 and punch through to Key Res 4180 and vital Outer Index Rally 4230 as specified in the Daily Chart Analysis For the Week of February 3. On the downside, there might be a significant pullback to Mean Sup 4090 before propelling renewed rally. The Outer Index Rally completion will trigger a pivotal pullback to inverted Mean Res 4145, considered the first Mean Support level.
The Spooz, in choppy trading this week, managed to obsolete our outstanding target area - Mean Res 4126. The re-establishment of an upward trend will aim to obsolete Mean Res 4145 and punch through to Key Res 4180 and vital Outer Index Rally 4230 as specified in the Daily Chart Analysis For the Week of February 3. On the downside, there might be a significant pullback to Mean Sup 4090 before propelling renewed rally. The Outer Index Rally completion will trigger a pivotal pullback to inverted Mean Res 4145, considered the first Mean Support level.