In yesterday’s DTS Briefing we highlighted that price had reached initial 3-Day Cycle targets, and that any additional strength could carry higher into 1892.25 – 1894.50 zone. The actual high of day was 1894 even…so effectively a dead hit. Bullish price structure and directional momentum remain intact ahead of the long Memorial Day weekend. Our recent trade strategy of buying the pullbacks has worked nicely, so there is no change in trade bias.
Overall trade hypothesis remains the same with some minor adjustments. IF price can penetrate the 1894 level and convert, THEN upside potential targets 1896.00…1898.50 followed by 1900 – 1902, with layered extremes up through 1908.
IF Cycle High is complete, THEN pullback zones of recent acceptance are 1884 – 86…1880 – 82…Very strong support zone between 1876 – 78.
We are anticipating a relatively slow trade session ahead of holiday weekend…As such, we will remain acutely disciplined in trade selection and management…AS ALWAYS!
There will a PASSWORD CHANGE to access the Trading Room next week, so if you are currently a trial guest, and are interested in joining the PTG Trading Group, you will need to subscribe prior to next Tuesday. Below is membership subscription options page:
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Thank You and God Bless Our Troops!
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