Price is extended into 1106.00 resistance. Premise for today is to see if inside support develops at 1095.75. This is shallow relative to the move. The market will have to be strong for this to hold. If inside support holds at 1095.75, look for test of 1106.00 and sideways congestion 1095.75 - 1106.00 with an upward bias and extension attempt. If 1095.75 does not hold, watch for secondary potential inside support at 1091.00. If this holds, we will be more likely to see a more drawn out correction to test the highs. Overall range is 1106.00 - 1069.50 and base premise is to test 1069.50 low if 1106.00 holds. I will focus on longs off potential inside supports and shorts off the 1106.00 high if I get a chance. I have illustrated my execution areas.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.