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Major Support & Resistance (pivot points – explained):
Pivot Point: 6685; Support 1, 2 & 3: 6667, 6653, 6631; Resistance 1, 2 & 3: 6702, 6724, 6738
Little change since yesterday with 6700 and falling highs still unbroken. However, bulls slightly more excited by the rising lows from recent 6640 lows. Could this be the architect for a breakout? Or need we look further out to the potential symmetrical triangle in November which would be a continuation of the trend going into it – down?
The daily chart shows a real test of the falling highs coupled with almost positive momentum. This positive momentum is thanks to the slowing in declines and sideways drift into a likely quiet Thanksgiving week. Could this be what takes the index beyond the bugbear falling highs rather than a breakout, freeing it up for a renewed ride north?
Watch levels are a now rather narrow, with 6680 support and 6700 resistance.
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
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