Excellent follow through for buyers after fridays close. On Friday, one of my targets were 5528. We got there, then dipped. Right before the close, we got a failed breakdown of 5498 level which shot us right back up to 5528. Been basing up here since.
As of now: Hold runners if you have them. 5519, 5502 are supports. Staying above keeps 5536, 5542, 5550-55 in play. 5502 fails, sellers retest 5483 area. Sellers are still in short-term control, and will stay this way until 5550-55 reclaims. Until then, all longs shall be treated with small size and high caution. Be very aggressive with profit takes level to level in this scenario when longing.
As of now: Hold runners if you have them. 5519, 5502 are supports. Staying above keeps 5536, 5542, 5550-55 in play. 5502 fails, sellers retest 5483 area. Sellers are still in short-term control, and will stay this way until 5550-55 reclaims. Until then, all longs shall be treated with small size and high caution. Be very aggressive with profit takes level to level in this scenario when longing.
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