Open
Friday opened outside of previous D profile indicating a directional move way or initiative selling.
Open test drive downward confirming downward price action
Price forming fair value at 4230
'b' formation on profile indicates base forming and a new level of support with buyers to gain control
Considerations for Monday:
If ON session shows buying activity, 4230 could act as new support level for Monday. Friday formed b profile which could mean short covering with price set to rise on Monday
If ON session shows selling activity, 4230 could act as continuation in downward pressure with next level at 4211.50 and 4200
Comments