1639.30 is support, a close on Monday below this level is a strong indication for shorts, I would wait for the price to close below the channel. The market did overextend until 1627.47 so a short signal this week is under an “it won’t work” suspicion.
Buying pressure range for last Friday was at 1640.61, for next Monday is at 1639.30, longs, au contraire to shorts, need at least two consecutive days of increasing buying pressure. A close tomorrow above buying pressure range gets the longs and edge but is not a buying signal.
I’ll try to post Monday after the close, my analysis of buying and selling pressure ranges is short term, five to ten days top.
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- Erick Stern
- I am a civil engineer who likes charts, to me, speculating in the markets is both a hobby and a second profession and in my view the stock market is the most honest environment, since it is only your knowledge and preparation that matters. I live, and work in the construction industry, in the Dominican Republic. I read and answer all my mail so please feel free to write firstname.lastname@example.org Thanks, Erick