scottymac495

scottymac495

There are two ways we can go from here in my opinion. 866 is a point of support for us, if that gets broken we will absolutely test the 855 range. If that gets broken, 841-839 is our next stop. However I think if we close above the 866 support, we may see a climb to the upside to test resistance at 876, if that gets broken we may see 888 or 890 being tested.

scottymac495

Historically, when we pull into the lower zone, it’s pulled out of it very quickly. Personally I don’t think by any means we’ll see that recovery this week given the reason for the sudden drop. Whether it’s market manipulation or some hawkish fed comments. My personal stance is that we will see it hover in the 845-850 range and then see a push back to test the...