SHORT-TERM (today and 5 days out)
For Tuesday, both 1999.00 and 1983.25 can firmly contain intraday activity, beyond which the next notable level is expected intraday. Downside today, breaking/opening below 1983.25 signals 1967.50, able to contain session weakness. Breaking 1967.50 indicates 1953.50 intraday, able to contain selling into later week and the level to settle below for allowing the targeted 1906.25 level by Friday’s close. Upside Tuesday, pushing/opening above 1999.00 signals 2013.75, able to contain session strength. Closing today above 2013.75 indicates 2033.50-40.50 tomorrow, a wide range of resistance able to contain buying through July and below which 1906.25 remains a 2-3 week target. A surprise settlement today above 2040.50 indicates a good June low, 2125.50 then expected by the end of next week.o contain quarterly buying pressures when tested. SHORT-TERM (today and 5 days out) For Tuesday, both 1999.00 and 1983.25 can firmly contain intraday activity, beyond which the next notable level is expected intraday. Downside today, breaking/opening below 1983.25 signals 1967.50, able to contain session weakness. Breaking 1967.50 indicates 1953.50 intraday, able to contain selling into later week and the level to settle below for allowing the targeted 1906.25 level by Friday’s close. Upside Tuesday, pushing/opening above 1999.00 signals 2013.75, able to contain session strength. Closing today above 2013.75 indicates 2033.50-40.50 tomorrow, a wide range of resistance able to contain buying through July and below which 1906.25 remains a 2-3 week target. A surprise settlement today above 2040.50 indicates a good June low, 2125.50 then expected by the end of next week.
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