For Thursday, the 4203.75 - 4220.00 area can contain buying through the balance of the week, below which selling pressures can build over that time horizon.
Overall, a clear weekly settlement tomorrow below 4220.00 maintains a mere testing of long-term resistance, the market susceptible to significant bearish continuation as we move through the third quarter.
Inversely, a weekly settlement tomorrow above 4220.00 (last week failed to settle above this significant long-term channel top) would indicate longer-term bullish continuation.
Downside Thursday, 4163.50 can contain intraday weakness, while breaking/opening below 4163.50 signals 4127.25, able to contain session weakness.
Closing today below 4127.25 signals 4091.75 tomorrow, able to contain selling through next week.
Overall, a clear weekly settlement tomorrow below 4220.00 maintains a mere testing of long-term resistance, the market susceptible to significant bearish continuation as we move through the third quarter.
Inversely, a weekly settlement tomorrow above 4220.00 (last week failed to settle above this significant long-term channel top) would indicate longer-term bullish continuation.
Downside Thursday, 4163.50 can contain intraday weakness, while breaking/opening below 4163.50 signals 4127.25, able to contain session weakness.
Closing today below 4127.25 signals 4091.75 tomorrow, able to contain selling through next week.
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.