the bullish bias for the day, in addition to a positive Cumulative NYSE TICK has confirmed that, exactly nosotros every bit good confront resistance inward the 1110-1112 surface area in addition to thence a fundamental trading range.
The resolution of this attain volition locomote important; failure to sustain recent marketplace forcefulness would seat us alongside a lower high across most averages in addition to the possibility of a examination of recent lows from early on this month. That would accept technicians making hay out of a possible caput in addition to shoulders designing on the daily nautical chart (top chart).
While I'm less than enthusiastic nearly nautical chart patterns, the possibility that we're seeing a lower high inward a wide topping designing has me concerned nearly the marketplace upside in addition to cause to seat aggressively for a turn down if short-term activity is supportive.
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