Good Morning Tweeps! As I write this we are gapping up about a 1.50 above yday high, & about 2.50 above yday close.
What I'll be looking for:
-If we accept price above 82.21 (highest point buyers could push up after the huge gap down Thursday) after the open, it will signal to me that we are likely to test higher prices.
-We have resistance at 83 & 83.50ish....above that & we will be looking for the gapfill from last Thursday at 85.99.
-Yday opening price was a key level all day yday, & I expect the same today.
-If we accept price under 82.21 at any point today it will signal to me underlying weakness & will make a gapfill to the downside at 80.15 a much higher probability.
Eco data:
-Consumer Confidence at 10 EST
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