A two-sided framework continues through summer between 62.14 long-term support, and 82.45 long-term resistance, both regions able to contain seasonal activity.
Downside, a weekly settlement below 62.14 indicates 53.87 within several months, longer term Fibonacci support able to contain selling into later year.
Upside, a weekly settlement above 82.45 indicates 94.67 within several months, able to contain buying on an annual basis.
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For Monday, 72.16 can contain buying into later week, below which 68.52 remains a 3 - 5 day target able to contain selling over the same time horizon.
A daily settlement below 68.52 indicates 62.14 over the next 2 - 3 weeks, where the market can bottom out through summer activity.
Upside Monday, closing above 72.16 indicates 77.56 within 3 - 5 days, able to contain weekly buying pressures when tested and the point to settle above for then indicating 81.44 long-term resistance within 2 - 3 more weeks.
Downside, a weekly settlement below 62.14 indicates 53.87 within several months, longer term Fibonacci support able to contain selling into later year.
Upside, a weekly settlement above 82.45 indicates 94.67 within several months, able to contain buying on an annual basis.
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For Monday, 72.16 can contain buying into later week, below which 68.52 remains a 3 - 5 day target able to contain selling over the same time horizon.
A daily settlement below 68.52 indicates 62.14 over the next 2 - 3 weeks, where the market can bottom out through summer activity.
Upside Monday, closing above 72.16 indicates 77.56 within 3 - 5 days, able to contain weekly buying pressures when tested and the point to settle above for then indicating 81.44 long-term resistance within 2 - 3 more weeks.
Anthony Speciale, founder of Speciale Analysis offers an affordable approach for all traders to grow into their highest potential.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Anthony Speciale, founder of Speciale Analysis offers an affordable approach for all traders to grow into their highest potential.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.