If yesterday's reversal is the real thing, price should come under 1190.68 and preferably 1181.23 in the next two days. A shallow pullback today leaves the door open for another new high on Friday in line with pre-holiday seasonality.
Everything I said about this rally in yesterday's post still stands, however, the next level of resistance would test my patience and that is the 1250-1260 area. If we are to see new highs, I would much prefer to see a marginal high that peaks just above 1230.71 if I am to keep my downside bias.
I am out all day today, heading over to the Berkshire mountains in Massachusetts for a session with a great healer that practices there. Now that I have gotten all the mercury out of my mouth -- though not necessarily completely out of my body -- I want to see what I need to work on.
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