Quick charting of levels to watch for spooz going into the short holiday week. Many bulls were created end of day Friday with a late trend day developing, but the close left me wanting and prevented me from scaling in to longs just yet.
What to watch: personal preference is for 3783 to get tested and hold, then reverse toward 3880/3900 and maybe even 3950 if bulls take charge. If we touch 3800 and volume floods in with aggressive buyers, then I will also scale into longs.
On the downside, if 3780 level goes, analysis leads me toward 3740 to retest PW lows. Scalpers should be able to catch 20-30 pts for a bounce here, but on a 3rd test we will likely see weakness back down to 3700/3660. The final result will be new YTD lows if bulls lose 3800 and don’t reclaim by weekly close.
What to watch: personal preference is for 3783 to get tested and hold, then reverse toward 3880/3900 and maybe even 3950 if bulls take charge. If we touch 3800 and volume floods in with aggressive buyers, then I will also scale into longs.
On the downside, if 3780 level goes, analysis leads me toward 3740 to retest PW lows. Scalpers should be able to catch 20-30 pts for a bounce here, but on a 3rd test we will likely see weakness back down to 3700/3660. The final result will be new YTD lows if bulls lose 3800 and don’t reclaim by weekly close.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.