We built an overnight base between 6462 and 6475. We broke out of this and have grinded higher into the 6484 target we have been looking for this week. PPI coming out this am and we could keep grinding higher or Ideally we get a loss of 6462 and reclaim to setup a nice opportunity for 10+ points and retest the highs of the day and potential target 6492, 6503+.
I will update my thoughts after PPI is released. I am first looking for a flush below overnight low and reclaim or looking at 6452, 6437 or 6424 level as shown by the yellow support levels on the chart as areas we could flush and move higher. Below 6397 and we could continue lower.
My lean is we continue higher, but first need a flush to scare holders and push prices higher as we head into Friday OPEX.
Update around 10am EST.
I will update my thoughts after PPI is released. I am first looking for a flush below overnight low and reclaim or looking at 6452, 6437 or 6424 level as shown by the yellow support levels on the chart as areas we could flush and move higher. Below 6397 and we could continue lower.
My lean is we continue higher, but first need a flush to scare holders and push prices higher as we head into Friday OPEX.
Update around 10am EST.
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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.