In terms of the big picture, a long-term ceiling of resistance is located at 86.95, and floor support at 67.99.
At present, there is no clear indication that either will be tested unless 83.39 is violated upside, and 73.47 violated downside.
Upside, the 86.95 - 87.18 region can contain buying into spring trade, once tested the market susceptible to falling back to 67.99 within several months, where the market can bottom out into summer activity.
A weekly settlement above 87.18 would indicate several months bullish continuation to 103.93, able to contain annual buying pressures as well as a meaningful upside continuation point into later 2023.
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For Monday, 79.60 can contain selling into later week, above which 83.39 is attainable over the next 2 - 3 days, where the market can top out through next week - once tested market prone to falling back to 73.47 within several weeks.
Upside Monday, a daily settlement above 83.39 signals 86.95 - 87.18 within 3 - 5 more days, where the market encounters longer-term resistance able to contain buying into spring activity.
Downside Monday, closing below 79.60 shifts momentum negative through the balance of the week, 73.47 by the end of next week, likely contain selling on a weekly basis, and if settled below would indicate 67.99 long-term support within another full week of activity
At present, there is no clear indication that either will be tested unless 83.39 is violated upside, and 73.47 violated downside.
Upside, the 86.95 - 87.18 region can contain buying into spring trade, once tested the market susceptible to falling back to 67.99 within several months, where the market can bottom out into summer activity.
A weekly settlement above 87.18 would indicate several months bullish continuation to 103.93, able to contain annual buying pressures as well as a meaningful upside continuation point into later 2023.
-
For Monday, 79.60 can contain selling into later week, above which 83.39 is attainable over the next 2 - 3 days, where the market can top out through next week - once tested market prone to falling back to 73.47 within several weeks.
Upside Monday, a daily settlement above 83.39 signals 86.95 - 87.18 within 3 - 5 more days, where the market encounters longer-term resistance able to contain buying into spring activity.
Downside Monday, closing below 79.60 shifts momentum negative through the balance of the week, 73.47 by the end of next week, likely contain selling on a weekly basis, and if settled below would indicate 67.99 long-term support within another full week of activity
Anthony Speciale, founder of Speciale Analysis offers an affordable approach for all traders to grow into their highest potential.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Anthony Speciale, founder of Speciale Analysis offers an affordable approach for all traders to grow into their highest potential.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.