It was interesting stuff as the bulls had a look at the August high before turning tail and letting this drift back a level.<\/p>\n
The high was exactly at 2849 (we had suggested thinking in terms of a 2842 – 2849 resistance region after the 2842 high on Wednesday).<\/p>\n
Stochastics have reached the overbought region and we’re glad to stay bullish here for the moment. But our tight stop at 2801 does seem well-advised given the strength of this latest confirmation of resistance. Note that there are “Evening Star” possibilities if this closes below Wednesday’s nearby Marabuzo line at 2796. We’ll continue to back the bulls at the current levels.<\/p>\n
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Below are Support (S1 to S7) and Resistance (R1 to R7) levels. On our daily Technical Analysis reports we also include a chart, “Automated” levels including Pivot Points, Market Profile levels and popular Moving Averages, as well as our unique “SkewBar”, giving you an instant snapshort of the current short term trend.<\/p>\n
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R7\u00a0 – 2956<\/strong><\/p>\n R6\u00a0 – 2913<\/p>\n R5\u00a0 – 2895<\/p>\n R4\u00a0 – 2876<\/p>\n R3\u00a0 – 2864<\/p>\n R2 – 2849 <\/strong><\/p>\n R1\u00a0 – 2835<\/p>\n ______________<\/p>\n S1\u00a0 – 2813<\/p>\n S2 – 2796-2801 <\/strong><\/p>\n S3\u00a0 – 2786<\/p>\n S4\u00a0 – 2770<\/p>\n S5\u00a0 – 2742<\/p>\n S6\u00a0 – 2733<\/strong><\/p>\n S7\u00a0 – 2710<\/p>\n","protected":false},"excerpt":{"rendered":" It was interesting stuff as the bulls had a look at the August high before turning tail and letting this drift back a level.
\nThe high was exactly at 2849 (we had suggested thinking in terms of a 2842 – 2849 resistance region after the 2842 high on Wednesday).
\nStochastics have reached the overbought region and we’re glad to stay …<\/p>\n