The Bulls absorbed additional selling in prior session and held an important support zone between 1830 – 35. This zone now becomes the “key marker” on any future retest.
Having held key support, it is incumbent on the bulls to now move the ball (price) higher to confirm their intentions. Price failed to move above key resistance near the 1848 – 50 zone in prior session…continued failure to penetrate this zone should embolden Da Bears to press the short side targeting 1840 – 43 zone, then back down to retest key support. IF resistance zone is converted, THEN upside initially targets 1854, followed by 1856.75 – 1860 zone.
Stay Disciplined….ALWAYS USE STOPS!
I think in terms of probabilities. I do not know, all I have are probabilities. Probabilities are at the core of my decisions. Through consistent application of the probabilities, I will win.