Had a few comments about the number of lines I have here. If you pay close attention they often come into play throughout the day. That said, some are more important than others on a day to day basis, so I've made the more important levels bolder and brighter.
So we nailed the bounce a few days back (post linked) but we've stalled out in the middle of the chop. We're putting in lower highs while the S&P is melting upwards. I'm watching this magenta dashed line as a possible top-trend resistance level.
My sentiment - we look pretty weak, printed some long upper wicks on the daily. I don't expect a big push for the bulls today with out news.
resistance to watch
$134.80 is the first level I have my eye on, followed by the magenta dotted trend-line in the low $136 area. $136.81 is another often respected area in this chop. If, for whatever reason, we find ourselves very bullish, 138.99 should hold as resistance for the day.
support levels to watch
132.30, 131.25 have been respected in the past, but if we wind up bearish I'm more interested in 129.65, 128.20 and 126.71
So we nailed the bounce a few days back (post linked) but we've stalled out in the middle of the chop. We're putting in lower highs while the S&P is melting upwards. I'm watching this magenta dashed line as a possible top-trend resistance level.
My sentiment - we look pretty weak, printed some long upper wicks on the daily. I don't expect a big push for the bulls today with out news.
resistance to watch
$134.80 is the first level I have my eye on, followed by the magenta dotted trend-line in the low $136 area. $136.81 is another often respected area in this chop. If, for whatever reason, we find ourselves very bullish, 138.99 should hold as resistance for the day.
support levels to watch
132.30, 131.25 have been respected in the past, but if we wind up bearish I'm more interested in 129.65, 128.20 and 126.71
Comment:
nice bounce at 128.20, sitting on my hands for the time being
