Premise for today is to see if 1101.75 minor support holds or if price pulls back inside. Bias is up. Price has broken out of the large range that was establishing. Premise now is for move up to 1142.00 area and potentially beyond. If 1101.75 holds, look for potential congestion range 1101.75 - 1111.75 with upward bias until breakout. Price will likely wash out both these levels and move back inside. If price moves back below 1101.75 action will get tricky as price will look to establish new support to continue the move up. If there is no resistance at 1111.75, look for test of 1119.75 and potential range 1119.75 - 1101.75.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.