Quote:
Originally Posted by Jocelyn
As long as price remain north of 236.50-70 the higher low step (& the current longs from further back) stays genuine.
No need to begin waving the white flags from the mid-term bulls yet, & no real requirement for the short-term bears to give ground either.
|
So, the $$'s were banked from the 'fast money' brigade & prices steadied shy of the key line Bull supports at 236.50-70.
A case of, as you were....prices now back threatening the near term resistance up here at the weeks highs.
The overnight Tokyo shift maintained the higher low push from late New York trade, adding impetus to attack & push thru the upper ceiling.
If the momentum takes hold & attracts further interest at this resistance zone, it exposes the next tier ceiling zones of 241.50 & 243.0
The lower levels are clearly marked for those intent on playing any appropriate pullback 'short' runs via the faster timeframes.